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125 Acres allotted to SEZ |
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125 Acres allotted to SEZ - Google, Patni, Sonata, Intelligroup, Conexant, C-Bay, Cognizant, Qualcomm, DQ Entertainment, Infinite and Tech Mahindra to build office complexes in Kokapet.
India 's first special economic zone (SEZ) exclusively for IT and ITeS firms of 125 acres will be ready by November at Kokapet. Eleven firms with an approximate investment of Rs 805 crore, including land cost have shown interest to set up their offices in the SEZ, being developed by the Hyderabad Urban Development Authority (Huda).
Companies like Google, Patni, Sonata, Intelligroup, Conexant, C-Bay, Cognizant, Qualcomm, DQ Entertainment, Infinite and Tech Mahindra have paid Rs 25 lakh per acre for land and another Rs 25 lakh to Huda towards the development charges.
Among these companies, Patni has been allotted the highest of 29 acres followed by Google about 24.21 acres. Cognizant and Tech Mahindra got about 10 acres each. While Sonata, Qualcomm, CBay are allotted with eight acres each. Intelligroup, Conexant, Infinite got about fives acres and DQ was given 3.47 acres. While the lease agreements are expected in a couple of weeks the land would be leased out to the companies for a period of 20 years.
Almost all software companies have paid the development charges and land cost to Huda. Huda vice-chairman Jayesh Ranjan revealed that Huda has finalised its tenders for laying roads and providing other infrastructure and SEZ will be ready in another six months.
This SEZ was first proposed to be set up at Poppalguda in Survey No. 452 and 454 and the IT department even issued a GO on June 19, 2006 for setting up the special zone. Due to the objections raised by some environmentalists over the project as the areas are in heritage and conservation zone, the SEZ was moved to Kokapet. The objection was some rocks are located in the area which was part of heritage precincts. Later, the IT department shifted the SEZ to Kokapet by allotting 125 acres in Survey No 239 based on recommendation of Huda given in November, 2006. It took six months to invite firms and complete the procedures.
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