Govt to allocate non-SEZ portion within SEZ ambit

Kolkata: The recent notification of the Union Commerce Ministry to demarcate part of Special Economic Zones (SEZs) into non-SEZ areas will spur office space leasing in the country, according to a report prepared by research firm Crisil Ratings.

India’s office space leasing is expected to benefit from the recent amendments to the SEZ Act of 2005, notified by the Commerce Ministry on December 6, 2023, it said. As per the notification, the amendments permit the demarcation of a part of the SEZ areas into non-SEZ ones after repayment of tax benefits availed till date, the report said.