Govt approves land transfer for joint venture SEZ

Chandigarh, May 3 : The Haryana government today approved the proposal of the Industries Department for the transfer of 1715 acres of land acquired by the HSIDC at Garhi Harsaru in Gurgaon district for setting up a Special Economic Zone (SEZ) through a joint venture of the HSIDC and the Reliance Venture Limited.

The decision was taken in a cabinet meeting presided over by Chief Minister Bhupinder Singh Hooda here.

An official spokesman said in order to adquately compensate the HSIDC, the total cost for the transfer of the land would include the cost of land acquisition, interest capitalised as holding cost at the rate of nine per cent per annum, administrative cost at the rate of 10 per cent of the total cost of land acquisition and opportunity cost to HSIDC in the form of sweat equity in the joint venture.

UNI