DLF may surrender five IT- ITeS SEZs
Project Today reported that DLF, the real estate company, has approached the Union Government over its plans to surrender five of its nine IT-IT enabled Service notified SEZ.
The reason for the companys decision cannot be ascertained; however speculation is that the verdict comes in fray of the credit crunch hitting the real estate sector.
As per the SEZ Act, the tax free enclaves cannot be relinquished once they become operational. DLF, however, has not started work on the five SEZs that it wants to give up. The company had earlier surrendered its 40-acre IT SEZ in the central Delhi.
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