by : Rajinder Dogra

Source: www.mumbaipropertyexchange.com

Indian Real Estate: Hirandani SEZs

Real estate and hospitality major – Hiranandani Constructions is in the midst of plans to set up two special economic zones (SEZs), one in Powai and the other on the city's periphery.

Already, the company has received approval for setting up an IT SEZ in Powai, and plans to invest Rs. 500-crore in it. The other is a multi-services SEZ, for which, Hirandani has already put forward a proposal to the state Government.

The Powai SEZ to be set up on 32-acres of land with an investment of Rs. 500-crore, will have work on it start very soon, taking two years to complete the construction. Preparing to set up another SEZ, a multi-service SEZ on the periphery of the island city, Hirandani declined to divulge any details, since approval for it is still pending.

Unwilling to reveal much on the project, however, market sources confirm the company has long nurtured the idea of setting up a multi-purpose SEZ in Navi Mumbai, the satellite town on the outskirts of Mumbai, proposal for which has been forwarded to the Government.

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