Unitech's IT SEZs notified

Investment company Unitech Corporate Parks Plc (UCP) on Friday said its proposed IT and ITeS special economic zones in Kolkata and Gurgaon have been notified by the government, making the projects eligible for fiscal incentives under the SEZ rules.

"These notifications are a significant development for the company and our investors as well as future occupiers of the projects," UCP Chairman Atul Kapur said in a filing to the London Stock Exchange.

With the notification, the developer and future occupiers of these projects would be eligible to claim various fiscal benefits for the projects in the country under the applicable rules and regulations.

UCP, which is the investment arm of Gurgaon-based Unitech Ltd, focuses on real estate projects in the country and invests primarily in IT and ITES SEZ projects.

The company's initial portfolio comprises six projects, five IT and ITeS special economic zones and an IT park. It has been granted formal approval for its IT zones in Greater Noida, Noida and Gurgaon.