Govt notifies Parsvnath's IT SEZ at Gurgaon

MUMBAI: Realty firm Parsvnath Developers has received the final notification from the Centre for its IT and ITeS special economic zone (SEZ) at Gurgaon in Haryana.

Parsvnath SEZ Ltd - the subsidiary of Parsvnath Developers - now has two notified SEZs for IT/ITES sectors at Indore and Gurgaon with a combined developable area of over 16 million sq ft.

The Gurgaon SEZ, spread over 105 acres, would have a developable area of around 10 million sq ft. The project is scheduled for completion within 36 months from the commencement of construction, the realtor said in a filing to the Bombay Stock Exchange.

The company also has three other formally approved SEZs at Dehradun, Kochi and Hyderabad with total developable area of 11.70 million sq ft, which are awaiting central government notification, it said.

Seven other SEZs, with total developable area of 170 million sq ft, of the company are awaiting have received in-principle approvals from the government.

Shares of Parsvnath were trading at Rs 311.10, up 2.88 per cent on BSE in morning trade.