Notification of Mindspace Business Parks Pvt. Ltd., an IT/ITES SEZ at Pocharam Village, Gharkesar Mandal, Ranga Reddy District, Telangana for partial denotification of 7.906 Ha

## Report on Amendment to Special Economic Zone (SEZ) Policy Regarding Ms. Mindspace Business Parks Pvt. Ltd. **1. Executive Summary:** This report analyzes a notification (S.O. 4775(E)) issued by the Ministry of Commerce and Industry, Department of Commerce, dated November 16, 2021, regarding a partial denotification of land within a sector-specific Special Economic Zone (SEZ) for Information Technology and Information Technology Enabled Services (IT/ITES) developed by Ms. Mindspace Business Parks Pvt. Ltd. The core purpose of this amendment is to reduce the total area of the SEZ by 7.906 hectares, following a proposal by Ms. Mindspace Business Parks Pvt. Ltd. and subsequent approvals. The denotified land will be used for developing infrastructure and office spaces for the IT/ITES sector. The resultant area of the SEZ after the denotification is 4.827 hectares. **2. Introduction:** This report aims to provide a comprehensive overview of the amendment to the Special Economic Zones (SEZ) policy concerning Ms. Mindspace Business Parks Pvt. Ltd. based solely on the provided government notification (S.O. 4775(E)). The report will detail the rationale for the amendment, its key provisions, affected stakeholders, and expected outcomes, all derived from the text provided. **3. Policy Overview:** * This notification amends the original policy that established the sector-specific SEZ for IT/ITES for Ms. Mindspace Business Parks Pvt. Ltd. (formerly Ms. K. Raheja Corporation Private Limited and Ms. Serene Properties Pvt. Ltd.). The original policy was established under section 3 of the Special Economic Zones Act, 2005. Notifications Number S.O. 869E dated 01st June, 2007 and S.O 3106E dated 230.800.19 had previously notified an area of 26.895 hectares and denotified an area of 14.162 hectares, respectively. * **Core Objective(s):** The core objective of *this specific amendment* is to reduce the size of the previously approved Special Economic Zone to align with Ms. Mindspace Business Parks Pvt. Ltd.'s current development plans. The denotification allows for alternative development of the released land. **4. Background and Rationale:** This amendment is likely driven by Ms. Mindspace Business Parks Pvt. Ltd.'s revised development plans for the SEZ. The company proposed a partial denotification of 7.906 hectares. The Development Commissioner, Visakhapatnam, SEZ recommended the proposal. The State Government of Telangana gave its approval. This suggests a change in the initial projections for the SEZ's land utilization and a shift towards a more optimized use of the area. The text explicitly states that the denotified land will be used for developing infrastructure and office spaces for the IT/ITES sector, thus indicating that the denotification is intended to facilitate further development within the sector, albeit outside the SEZ framework. **5. Key Provisions / Changes:** This notification's core change is the **denotification of 7.906 hectares** from the existing SEZ area. * **Specific Part of Original Policy Changed:** This amendment directly alters the area specified in previous notifications (S.O. 869(E) and S.O. 3106(E)) related to the Mindspace Business Parks Pvt. Ltd. SEZ. The notification directly references these previous notifications. * **New Rule/Provision:** The new provision, based on the amendment, is that the area of the SEZ is now *specifically* defined as 4.827 hectares after the denotification of 7.906 hectares. The denotified land will be used for developing infrastructure and office spaces for ITITES Sector. * **Difference/Effect of Change:** This change reduces the size of the SEZ, potentially impacting the range of activities that can be conducted within the formally designated zone. However, it simultaneously allows for development of IT/ITES infrastructure and office spaces on the denotified land, implying a potential shift in how the overall project is executed. The specific Survey numbers of the land being denotified are also provided. **6. Target Audience and Stakeholders:** The primary stakeholders directly affected by this amendment are: * **Ms. Mindspace Business Parks Pvt. Ltd.:** The developer is most directly impacted as it affects their development plans and land usage. * **The State Government of Telangana:** The state government approved the proposal and is likely a key partner in the overall development strategy. * **Businesses operating within the SEZ and those potentially interested in establishing operations there:** The reduced SEZ size may impact the availability of space and the overall business ecosystem within the zone. * **IT/ITES Sector:** The expansion of ITITES related infrastructure on the denotified land will likely be of interest to those involved in the broader IT/ITES sector in the region. **7. Implementation Aspects (Inferred):** * **Responsible Agency/Bodies:** The Ministry of Commerce and Industry, Department of Commerce, is the responsible body issuing the notification. The Development Commissioner, Visakhapatnam, SEZ played a role in recommending the proposal. * **Timelines/Procedures:** The notification is effective from the date of its issuance (November 16, 2021). The denotification process involved a proposal from Ms. Mindspace Business Parks Pvt. Ltd., a recommendation from the Development Commissioner, and approval from the State Government of Telangana, indicating a multi-stage approval process. * **Amendment-Specific Implementation:** Ms. Mindspace Business Parks Pvt. Ltd. now needs to execute development plans for the denotified land in accordance with applicable regulations, specifically focusing on developing infrastructure and office spaces for the IT/ITES sector. **8. Expected Outcomes / Impact of Changes:** The likely intended outcome of this amendment is to: * **Facilitate more efficient land utilization:** The denotification allows Ms. Mindspace Business Parks Pvt. Ltd. to optimize its development plans by utilizing the land outside the formal SEZ structure. * **Promote IT/ITES infrastructure development:** The stated purpose of the denotified land being used for IT/ITES infrastructure and office spaces suggests an intent to boost the sector's growth in the region. * **Potentially increase investment in the region:** By allowing for a more flexible approach to development, the amendment could attract further investment in the IT/ITES sector. * **Change the Economic Activity:** The economic activity on the 7.906 hectors will no longer be bound by the restrictions of the SEZ act, and will be governed by the local regulations. **9. Conclusion:** The amendment notification S.O. 4775(E) represents an adjustment to the approved SEZ for Ms. Mindspace Business Parks Pvt. Ltd. through a partial denotification of land. This change, driven by the company's revised development plans and approved by relevant authorities, is intended to enable the efficient utilization of land and promote the growth of the IT/ITES sector in the region. The reduced size of the SEZ coupled with the specified use of the denotified land indicates a strategic shift in the project's execution, potentially impacting businesses operating within the zone and attracting new investment in the IT/ITES sector.

Key Entities Referenced