News & Views on Indian Real Estate

Thursday, August 28, 2008

Goa Govt declines land allotment for SEZs

Goa government has recently announced that no land with industrial estates owned by Goa Industrial Development Corporation (GIDC) should be allotted or leased for developing special economic zones (SEZs). Mr. Digamber Kamat, Chief Minister, said that if any land has been leased, the lease should be immediately revoked or cancelled. The state-government run GIDC had earlier issued show cause notice to revoke lands to seven SEZ promoters, which were later revoked forcing developers to approach the high court.

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