5 reason you should buy a property in Noida

After the utterly clumsy place of the capital region of India, Delhi and the densely overcrowded place for offices, Gurugram people are quite as well left with a choice of Noida. This is the reason that the residential sector of Noida Real estate is highly increasing since the past two decades. Noida is considered as a cheap and easy city to live in provided its easy connectivity to Delhi, Faridabad, Agra, and Haryana.
Noida has been considered as the most affordable place to live in given the high number of affordable flats here. There are many reasons that add to the fact but if we want to name a few we can easily do so by guiding the basic points.
The first one can be the extremely well maintained and thoughtfully built infrastructure. The infrastructure that has built the city is the basic reason for more and more citizens coming here. The excellent infrastructure makes it capable of being the next best thing in the world. The availability of lands for residential, commercial as well as infrastructural facilities is something that makes it top the list leaving Delhi and Mumbai behind.
Second reason is the reputed faces of developers who are eyeing in this place to make their new launches. Builders like Supertech, Unitech, Ansal, Emaar, MGF and now Godrej has made their new launches in Noida and Greater Noida. These flats suffice all the segments of the society and promise to be affordable with the availability of luxury.
Third and the most important reason that helps people to relax and invest in these lands is new rules against Forgery. New and quick rules have now been applied to the forgery cases of land. Earlier, the land disrupts were handled by the court’s jurisdiction which always tends to stretch such cases to a number of years, but now a sigh of relief has approached when all these cases are being handed over to the stamps jurisdiction.
The fourth best reason would be the easy connectivity of Noida to other regions like Delhi, Ghaziabad, Gurgaon, Agra. The major plus point Noida has is the rapid availability of Metro from Delhi to Noida. Also, the ongoing construction of Metro from Delhi till Greater Noida via Noida will add a golden point to all these and make it more convenient for those who travel till Greater Noida and will also decrease the traffic on roads.
The fifth point is for those who have a property in Noida or are living on rent flats in Noida. The major availability of marketplaces throughout Noida makes it very easy and accessible to live here.

Regular efforts for affordable housing for all

Metropolises such as Noida are under scrutiny and major comprehensive plans are being drawn to build better infrastructure. The Centre is facilitating adequate amount of funds for urban local bodies in states to make cities more liveable by providing them more and more properties in Noida. “We are taking into account the, roads, water supply etc. and creating a major five-year development plan,” Naidu said while talking about Bengaluru, Pune and Noida cities. He stated that more and more 1bhk flats in Noida will be created so as to provide the urban localities the desired liveable surroundings.

State participation is the major key to achieving adequate infrastructure and it is therefore the essence of realising the ‘Housing for All 2022’ dream. Affordable housing will be a success only when these type of states perform. Around 23,000 houses still lie vacant in Delhi alone because of lack of infrastructure and therefore their buyers. “Where there are people there is a shortage of houses and now there are houses but nobody interested to reside in them. It is proving to be a grave problem,” said Naidu. The main infrastructure concerns that needs to be seriously looked after are drainage, sewage, main roads, byroads, rain water drainage, maintenance of water bodies, etc.
It is now supposed to be joint effort by the Centre, states and local bodies. People only set their keen eyes on better quality and good services. If the states can figure out a method to provide the correct measurements then there’s no going back. “They should try and study the development patterns of several states. Learn from other’s mistakes,” suggested Naidu.

Noida flat buyers stumble at Registration hurdles

Noida and Greater Noida development authorities have warned the default developers. The authorities have asked them to pay the due amount or to be ready for facing severe actions from the part of authority.
Home buyers are affected by the new decision of  Noida Authorities not to sanction the layout plans of default developers.

Home buyers are affected by the new decision of Noida Authorities not to sanction the layout plans of default developers.

It seems there is no end for flat buyers in Noida and Greater Noida. The latest registration hurdles has become a pouring of oil to their already- burning issues.

Those builders who have due-payments will not be allowed to register flats in the name of flat buyers. As a result those who have booked flats in Noida and Greater Noida will be troubled.

According to the latest reports, available with the authority, the government has lost Rs.4000 Cr in the form of default payment. Around sixty developers have not paid back the due amount.

Speaking on the issue Mr. H K Verma, additional CEO at Greater Noida Authority, said that the authority will not issue completion certificate to the default developers. He added that layout plans also will not be approved.

Around sixty builders are to pay the two authorities Rs.6000 Cr. The list contains some of the top and well renowned developers.

Noida flat buyers see no rays of hope ahead.

Noida flat buyers see no ready to-move-in home ahead, but barren land.

Mr. Verma informed that the authority is forced to take such harsh stand. It has to find sufficient fund for compensating the farmers. On the other side the Authorities are facing a severe financial crunch now.

Considering the problems of the flat buyers, the Authorities were thinking of not passing any such orders. However now they have no option to tackle the situation in which the Authorities are to pay huge amounts to the farmers as compensation.

Several notices were issued to the default developers. However the builders did not take any action or take the notices seriously. This prompted the Authorities to take tougher stand against these builders. Whatsoever, always the burden is upon the poor home buyers. Their wait to own their dream homes seems to get longer with this new issue.

Ghaziabad -Gr Noida Link Rd To Boost Realty In Ghaziabad

Realty market in Ghaziabad is likely to grow with the arrival of new 22 Km –long link road connecting Ghaziabad and Greater Noida.
Ghaziabad to see real estate growth with the launch of link road.

Ghaziabad to see real estate growth with the launch of link road.

Ghaziabad will witness the growth of realty in the city. This is made sure with the resume of construction of the Ghaziabad – Greater Noida link road. The 22 Km –long link road will connect the city to the Zeta sector.

The proposed link road is expected to reduce the commuting hours. Further it will take away the amount of traffic on NH-24.  As connectivity plays a greater role in any of the area’s real estate development, the builders are already planning to develop projects in this link–road corridor. The area falls under Ghaziabad Development Authority. Continue reading

Noida – Greater Noida Metro Link Details Announced

Noida Authority, while announcing the details of proposed metro link between Noida and Greater Noida on last Friday, revealed that two more metro stations are added.
Noida metro link details announced

Noida metro link details are announced by the Authority.

While announcing the details of the proposed Noida – Greater Noida metro link, the officials said that two more stations are added in the proposed  metro line. The officials said that the population is increasing in the areas of Greater Noida and on the Expressway. Considering this growing population the Authority has decided to add two more stations in the line.

As per the available sources, the proposed 29.707 km long metro line will have 22 metro stations. The metro line will be passing through Noida Sectors – 32, 51, 83, 101, 143, 147, Alpha and Delta, Knowledge Park 2 and Pari Chowk. Continue reading

Labor Shortage Strikes Residential Real Estate Projects

labour shortage

labour shortage hits real estate India.

The severe labor shortage is alarming the real estate builders. Most of the housing projects are not yet completed due to labor shortage. Recently there has been a tremendous increase in labor shortage. Continue reading

Real Estate Fails to Tackle Surging Housing Units Demand

Surging Housing Shortage of India.

Surging Housing Shortage of India.

Continued population boom in India leads to a situation where residential units or space remains insufficient for the people. According to Cushman and Wakefield all major cities of India are in high need of around 2.1 million new housing units to meet the increased demand. Real estate sector has to come up with new residential projects to solve out this great menace. Real estate has to play a vital role. Continue reading

Noida Land Order Got No Reviews from Allahabad High Court

Home-buyers in Noida and Greater Noida will have to wait longer for their flats. The Allahabad high court on Monday dismissed the plea of the Noida and Greater Noida authorities seeking review of its earlier order requiring all projects in the area to get the NCR Planning Board’s approval. So, till these clearances are in place, buyers will not get possession.

However, there was some relief for the buyers as well, with the court striking down a review petition by a group of villagers who wanted the land acquisition quashed in a village where construction work had started. The ruling led to some farmers in Noida Extension taking to the streets and attacking housing projects. They blocked traffic for a few hours.

The court also stuck to its earlier ruling granting increased compensation as well as 10% of the developed land to farmers.

Both the Noida and Greater Noida authorities had filed applications seeking review of the order dated October 21, 2011 which requires the NCR Board’s clearances for projects. The authorities argued before the three-judge bench of Justices Ashok Bhushan, S U Khan and V K Shukla, there was no need for such approvals but the bench was not impressed.

The court also dismissed applications to review the order on providing 10% developed plots to farmers. The authorities said development work in the area was almost complete and there were no leftover plots which could be given to farmers. Appearing for the farmers, Kamal Singh Yadav opposed the review applications saying developed plots were available but was not being provided to farmers. On October 21, 2011, after hearing 491 petitions against land acquisition filed by farmers of 63 villages falling under Noida and Greater Noida, the Allahabad High Court had cancelled land acquisition in three villages where construction had not started.

The acquisition was undertaken by the authorities using the urgency clause in the name of industrial development. But later the land use was changed to residential and plots sold to builders. However, in 60 villages where substantial construction work was already done, the court did not quash the acquisition. Instead, it asked the authorities to increase compensation and provide 10% to the affected farmers.

Thus, while ensuring enhanced compensation to farmers, the court also took into account the interest of more than 50,000 people who had booked flats and houses in projects on the acquired land. Now, the two authorities have no other option but to take approval of NCR planning board whose meeting is scheduled later this month and pay enhanced compensation to farmers.

Buyers back in Real Estate Sector this Navaratra.

Buyers are back in the realty market this Navaratra, lending credence to this festive season’s reputation as a golden period for business in this sector.

There is flurry of activity in the offices of realty firms as buyers are coming out to seal deals. The mood is likely to remain upbeat till the end of summer vacation of schools.

“I am sure that this positive momentum in the market will continue till summer vacation when even more end users are likely to clinch deals,” Samir Jasuja, the chairman and managing director of Prop Equity, says.

“After Navaratra, summer vacation in schools is regarded a good time for realty, as people wait for the end of term of their children to shift houses or buy one. The summer is a time of transfers and relocation; a time of school admissions and hunting for a house near schools, so that children can have an easy commute,” Jasuja says.

Gaurav Mittal, the managing director of CHD Developers, says: “The mood is really upbeat in the market with people finalizing deals in property. While market warms up during Navaratras even during bad times, this Navaratra is different. The quantum of deals is unexpected, though a welcome development.”

Jasuja says, “Notwithstanding a slew of legal battles, buyers are taking a final call on their new purchases in Noida and Greater Noida.” A report of Prop Equity says that the current financial year has proved to be good for almost all the big cities of the NCR including, Noida, Gurgaon, Ghaziabad, Greater Noida and Faridabad.

Sanjay Khanna, the director of Kailash Nath Developers Pvt Ltd, says: “I hope the worst is over for realty market and transactions take place till the end of summer vacation in schools. This Navaratra is proving to be very auspicious for the realty world. I know that NRIs, too, find the summer months an ideal time to return to their roots in order to buy property. Their search for a property also starts during the summer. This is the time when they visit India in order to meet their relatives and, side by side, also look for nice properties. They do not mind paying slightly more for good properties.”

Realty watchers say that April-June period records a high quantum of property transactions. Realty market picks pace from Navaratras. This is a time when end users finalize their deals and those looking for new homes on rent, also shift. The summer is also a time when the resale market picks up nicely.

Vijay Jindal, the chairman and managing director of SVP group, says: “It is a hectic period from Navaratra and through the summer months. A lot of transactions take place at all levels.” He says that during the summer, buyers give priority to those projects which are close to good schools.

New Project: Jaypee Greens Yamuna Vihar, Sports City East, Greater Noida

Construction major Jaypee Infratech has launched a new residential project called Jaypee Greens Yamuna Vihar as a part of its Greater Noida based township, Jaypee Greens Sports City. The project offers residential plots of around 200 and 300 sq yard with a cost of Rs 27000 per sq yard. An pre-launch discount of Rs 900 per sq yard is being offered for a limited time taking the cost to Rs 26100 per sq yard. Booking amount is Rs 4 lakh which can be paid via Demand Draft in favour of Jaypee Infratech Ltd.

Visit jaypeegreensyamunavihar.propertywala.com for more information and booking.

Hopes Revive for Housing , Infra Projects in Patwari

With the Supreme Court on Wednesday dismissing as withdrawn a special leave petition (SLP) filed by a group of Patwari farmers ,who challenged the Government ‘s move to work out an out of court settlement with farmers , The greater noida industrial development authority (GNIDA) is confident that the crises in Patwari will be resolved soon. There’s relief for 20,000 homebuyers who have booked flats in projects coming up in Noida Extention’s paywari village.

The Dismissal of the SLP and the indications that the Allahabad high court will begin hearing the Noida and Greater Noida land acquisition cases only after two weeks have allowed the government more time to make more and more Patwari farmers fall in line.
Not only homebuyers but projects like Metro line which is proposed from Noida to Greater Noida road (140 Metre wide, 28 Kms long) , a Greater Noida – Ghaziabad road (60 Metre wide , 22 Kms Long) will also get a new lease if life.
The authority had allotted 3,000 residential plots to people , plus there are number of corporate offices , besides schools and other institutions in that area. A section of farmers in Patwari , where the state government on August 6 struck a higher compensation deal to revive real estate projects , had moved the Supreme Court against the arrangement. Greater Noida chief executive officer Rama Raman termed the SC order “a positive sign”.
A two judge bench of the same court on July 19 quashed forcible acquition of 589 hectares of land in Patwari. But another two judge bench of the same court , while hearing some remaining petitions from Patwari on July 26 , referred the matter to the higher bench for hearing. The court also allowed the contesting parties time till August 12 for the settlement.
Farmer Layer Mr Parminder Bhati said “our contentions was when the HC had quashed acquition in Patwari village , the remaining petitions should have got the same relief. In the name of out of court settlements , government, officials and its heavy weight politicians have been putting pressure on farmers”
Farmers also claimed the court’s stand on Wednesday as victory for them. Ranveer Pradhan a farmer said “we thought we might not get back our land.but the court has approved of the july 19 verdict of the high court”.”The court has said the July 19 verdict was in favour of farmers and assured if the high court’s higher bench ruled against the interest of farmers they can move the Supreme Court.” Said Bhati.

Property Prices Set to Soar in Twin Cities

The lands in Noida and Greater Noida will make houses costlier in both cities. Out of 54 villages in Noida, 40 have been agitating for plots for years. So, more land is still required. There will be no land left for allotment to developers. Demand for land is ever increasing; land prices are bound to go up considerably. Apart from 10,000 odd farmers who are seeking developed land plots, about 4500 farmers in 11 villages of Noida, whose land was acquired before 1997 have also launched an agitation.

The authority says in order to meet the demand the option of raising floor area ratio that allows construction of bulkier buildings. But this alone can’t solve the crisis. The land rates have to go up.

In Greater Noida, the situation is different. Here, two court decisions have quashed forcible acquisition of about 750 hectares of land in two villages. Other villages have also moved court. The process of out-of-court settlement is on. If the farmers are paid more, land prices automatically will go up. If there is no out-of-court settlement, land has to be reacquired under the state’s new acquisition policy, which leaves less saleable land with the authority.

Talks Fails, GNIDA CEO faces ‘Hostile’ Crowd.

Greater Noida: 11 days left for the state government to work out an out of court settlement with Noida Extension farmers, the GNIDA has rushed talks but without success. The discussion between authority and the farmers of Patwari village failed on the issue of compensation, because back to back court orders quashing forcible land acquisition. The fate of 1 lakh houses in Noida Extension hangs in the balance.

The CEO of GNIDA Rama Raman, faced a hostile crowd of farmers, who said if the authority could not hike the compensation then there is no point of holding this discussion. They also accused the authority of trying dividing farmers by giving rehabilitations and other benefits to selected farmers, to weaken the movement against land acquisition.

Farmer leader said the authority is trying to play divide and rule policy by keeping land of some influential farmers. He told CEO, no out of court settlement could be reached out without hiking the compensation. The CEO said 4 bighas of land belonging to the village head would be regularized and not termed as encroachment.

The discussion between the authority and the Patwari village’s farmers failed on the issue of compensation. The authority wants to acquire the land and pay according to new acquisition and rehabilitation policy which allows the authority to give farmers bigger developed land plots, Rs 200 more per sqm as cash compensation, besides annuity payouts.

SC Comes to Rescue Noida Ext. Home Buyers

The developers of projects of Noida Extension will be refunding back money with interest to the buyers. The have also offered to shift buyers to their other projects being launched in the same area.  A bench of Justice G S Singhvi and Justice A K Ganguly has taken into consideration the plea of the people who booked the flats in these housing complexes which were being build by the seven builders. The court has made clear to these builders that they have to refund back the full amount with interest to the buyers.

The builders clarified that the full refund offer was open to all those buyers who had booked flats in housing projects of Sahberi village, where Noida authority had alloted land to builders without completion of the legal and acquisition process. Buyers seeking full refund outside that village will have to bear the cancellation penality as to they have to follow proper rules.

A spokesperson of CREDAI said, inspite of no fault of builders they are also being affected, but have decided to bear the loss and return full money with interest to the buyers. However, the builders are yet to get clear intructions from the greater noida authority on which portion of land comes under Sahberi village, which will take another two weeks. After that, developers will send formal letters to the affected buyers for option of shifting to other projects or full refund with relevent interest.

The Supreme Court Upheld the Noida Extension Order

The Supreme court had upheld the order of Allahabad High Court that had nullified the possession of Greater Noida Authority of land of Greater Noida in Shahberi Village. Also, Supreme Court had imposed a fine of INR 10 lakh on the Greater Noida Authority. The SC said the Greater Noida Authority bought lands from farmers for industrial projects but later they changed the land usage to residential projects which is a complete act of violation of the purpose of the land. The SC’s decision is likely to affect several builders – Amarpali, Ajnara, Mahagun, Supertech and Panchsheel.

On the contrary, Supertech Limited has not launched or sold any project on the land falling in this village. This village is closest to the project Eco Village2 but the current land of this project does not belong to this village. Construction is on for all the 3 projects – Ecovillage-1, Ecovillage-2, Ecovillage-3) in Noida Extn. Thus all the investments are fully safe and project would be completed on time. The Ecovillage housing are affordable with starting price as 9.85 lakhs.

So, Noida Extension’s loss will yield an unexpected gain for other locations such as Noida, Indirapuram, Vaishali, Vasundhara and Raj Nagar Extension?

New plots available in Jaypee Greens Sports City

Jaypee has launched new plots in Jaypee Greens Sports City. These plots are available at a discount of Rs. 1800 per square yards and now it would cost Rs. 16,200 per square yards.
The size of these plots is 153 square yards. Thus, the whole plot would cost approximately Rs.25 lakh.  The additional charges on the plots will be the same as the old ones applied on all other plots.
These plots are available at a further discount of 10% on BSP in case of Down Payment. In case of Partial Down Payment, there is a discount of 6.25% on BSP.
One more update is that the project earlier known as JPSK (Jai Prakash Sports komplex) will now be known as JPSI (Jai Prakash Sports International).

New Plots Launched in Jaypee Sports City Country Homes

PLOTS

Size-153 sq. yd.

Rate- 16,200 per sq yd. (after disc @ Rs. 1800 per sq yd.)

Additional Charges – as it is

Plots available on :

  • Down Payment Plan – Disc 10% on BSP
  • Partial Down Payment Plan – Disc 6.5% on BSP

Earlier it was known as JPSK (Jai Prakash Sports Komplex)

Now it is known as JPSI (Jai Prakash Sports International)

Inventory Limited

Visit jaypeegreenssportscity.propertywala.com for more information and booking.

Jaypee Greens Announces Lake District in Sports City, Greater Noida

Jaypee Greens Sports City - Lake District,  Greater Noida Jaypee Group (JPSK Sports Private limited) announces yet another new residential project “Lake District” under its new sports themed township Sports City along Yamuna Expressway in Greater Noida (Gautam Budh Nagar). The project is so names as it will feature an artificial lake in line with international standards. The project will offer luxury living at affordable rates. The lake district project will have 2BHK (2 bedroom), 3BHK (3 bedroom) with optional worker rooms (servant quarters), and 4BHK (4 bedroom) with worker rooms (servant quarters) residential apartments.

For further information such as floor plans, pricing, booking details, etc. please visit: http://jaypeelakedistrict.propertywala.com/

Jaypee Group to Announce Jaypee Greens Sports City in Greater Noida

Athens Olympic Sports Center
Photo by Ava Babili
After the success of various projects like Jaypee Greens Kosmos, WishTown Klassic, Aman etc. in Noida and Greater Noida, Jaypee Group is ready to unveil their newest venture in premium real estate — Jaypee Greens Sports City, Greater Noida — according to reliable sources.

The project will be located in the heart of Greater Noida in close proximity to proposed Formula 1 racing track, Jaypee Integrated Sports Complex, Golf course, NRI City, Gautam Buddha University. The project will mainly consist of affordable 2 and 3 bedroom budget apartments and commercial properties.

Due to its prime location and features the new project will offer an excellent living environment and an ideal investment opportunity.

Formal announcement is awaited and further details and updates will be available on the website http://jaypeegreenssportscity.propertywala.com/ .


Nearby Landmarks

  • Transportation

    • Railway Station Dadri (<6km),
    • Airport (<31km),
    • 18 New Dehli Airport (<43km),
    • Private Delhi Airport Parking And Store (<45km),
    • Dankaur Bus Stand (<19km),
    • Bus Terminal (<22km),
    • Taxi Stand (<2km),
    • Auto Cum Taxi Stand (<5km)
  • Markets & Shopping Malls

    • Singapore City And Mall (<2km),
    • Harsha Mall (<2km),
    • Gamma Shopping Mall (<5km),
    • Ansal Plaza Shopping Complex (<3km),
    • Logerstromia Shopping Complex (<3km),
    • Community Shopping Center (<3km),
    • H Block Commercial Complex (<4km),
    • Zonal Shopping Center (<4km),
    • Greator Noida Shopping Plaza (<4km),
    • Bajrang Shopping Centre (<4km),
    • Kadamba Shopping Centre (<4km),
    • Bagon Villa Shopping Centre (<5km)
  • Banks & ATMs

    • Bank Of Maharashtra (<2km),
    • Icici (<3km),
    • Hdfc (<3km),
    • Citi Corporation Bank (<4km),
    • Bank Of Baroda (<4km),
    • Syndicate Bank (<5km),
    • Indian Bank (<5km),
    • Oriental Bank Of Commerce (<4km),
    • Icici (<5km),
    • Canara Bank (<5km),
    • State Bank Of India (<9km)
  • Restaurants & Clubs

    • Swagat Restaurant (<3km),
    • The Yellow Chilli (<5km),
    • Dawat (<5km),
    • Spice Of India (<5km),
    • Sharma Vaishno Dhaba (<6km),
    • Heritage Club (<1km),
    • Club Beta Ii (<3km),
    • Shiva Sports (<4km),
    • The Steller Gymkhana Club (<4km),
    • Club Ansals Golf Links (<4km),
    • Club Gamma I (<5km)
  • Movie Halls

    • Inox Air Products Ltd (<7km),
    • Durga Cinema Hall (<10km),
    • Mohan Palace Cinema (<11km)
  • Parks

    • City Park (<1km),
    • Water Park (<2km),
    • Accman Instittute Of Management (<5km)
  • Hospitals & Clinics

    • Dr Dhiraj Ahlawats Clinic (<2km),
    • Vlcc Slimming Beauty Fitness (<2km),
    • Virddhi Clinic And Medicose (<3km),
    • Final Diagnosis (<3km),
    • Dr Chauhan Poly Clinic (<3km),
    • Manav Sewa Clinic (<4km),
    • City Homeopathy (<4km),
    • Jyoti Hospital (<3km),
    • Nimt Hospital (<3km),
    • Kailash Hospital (<3km),
    • Sahdev Hospital (<4km),
    • Pryag Hospital (<5km),
    • Prayag Hospital & Reserch Centre Pvt Ltd (<5km)
  • Offices

    • Main Office (<3km),
    • Greater Noida Authority Office (<4km),
    • New Universal Office System (<5km),
    • Office Solution (<5km)
  • Schools & Colleges

    • Daffodil School (<1km),
    • Higher Secondary School (<2km),
    • Priyadarshani School (<2km),
    • Summer Villager School (<3km),
    • Nand Marg Nursery School (<3km),
    • St Joseph School (<3km),
    • Ryan International School (<3km),
    • Jp International School (<4km),
    • Dharam Public School (<4km),
    • Diamond Drill Senior Secondary Public School (<4km),
    • Iec College (<3km),
    • Global Institute Of Management And Technology (<4km),
    • Pccs College (<4km),
    • Bakson Homeopathic Medical College (<4km),
    • Priyadarshini Institute Of Management And Technology (<4km),
    • Hauard Institute Of Management And Technology (<4km),
    • Iec Institute Of Management And Technology (<4km),
    • Ramesh Institute Of Management And Technology (<4km),
    • Galgotias College Of Engineering And Technology (<5km),
    • Ishan Institute Of Management And Technology (<5km)

* All distances are approximate

Tax benefits for investors

UP Government has declared some tax benefits besides simplifying process for approval of building layouts to increase SEZ investments.
During the meeting, it was planned that units being set up in SEZs will get a rebate on entry tax from June 30. These units will get entry tax wavier like export oriented units. Arrangements have been made for fast approval of layout of buildings.
Unit Approval Committee headed by Noida and Greater Noida officials will approve layouts.
Officials were also ensured that VAT deposited by units set up in SEZ was refunded as these units are exempted from VAT w.e.f. january last year.