The launch of 12 industrial smart cities in India will transform the industry. These smart cities reduce risks and ease logistics by providing a plug-and-play environment for enterprises. Through innovation, cooperation, and crucial infrastructure, they want to change the MSME sector.

Mumbai's commerce and business sector benefited from the Jawaharlal Nehru Port Authority (JNPA) awarding industrial plots in its Navi Mumbai Special Economic Zone (SEZ) for almost twice the reserve price to nine winning bidders. This exceptional land demand shows the region's economic potential.

Mindspace Business Parks REIT leased over 2 million square feet in the quarter ended March 2024, a record. This is the greatest lease volume since its August 2020 IPO, totaling 3.6 million square feet for 2023-24.

CapitaLand India Trust (CLINT), a major real estate investor, bought BlueRidge 3 Phase 1 in Pune's IT corridor. This purchase, worth INR 773 crore, in Hinjewadi, the IT centre, shows CLINT's dedication to creating innovative and growing commercial spaces.

The Indian real estate investment trust (REIT) market is on the brink of a monumental expansion, poised to redefine the landscape of office real estate.

MIHAN-SEZ's land dispute with DLF escalates. The Multi Modal International Cargo Hub and Airport at Nagpur (MIHAN) Special Economic Zone (SEZ) in Maharashtra has asked Gurugram-based DLF to return 140 acres of land they received in 2007. This Nagpur IT Park site has been undeveloped for over 15 year

The Jawaharlal Nehru Port Authority (JNPA) earned Rs 426 crore by leasing 14 properties, comprising 42 hectares, in its Uran Taluka, Raigad district Special Economic Zone (SEZ). This e-auction promotes industrial expansion and marks JNPA's revenue milestone.

Industry analysts say the delay in replacing the Special Economic Zones (SEZ) Act of 2005 with the Development (Enterprise and Services) Hubs Bill of 2022 is hurting major office park rentals since firms are unwilling to lease space in SEZ parks.

Cognizant Technology Solutions, a multinational IT services and consulting firm headquartered in the United States, has recently vacated 1.15 million square feet of office space in Chennai.

Amazon Development Center (India), Amazon's software and support services division, has leased 200,000 square feet of office space in Pune's Gera Commerzone IT SEZ near Kharadi.

How Will the Modification of SEZ Rules Benefit Indian Real Estate?

EON Free Zone is the epicentre of a growth-driven future that contributes to the dynamics of free- market democracy. A significant node and the first Special Economic Zone (SEZ) of Pune is located in Kharadi and spans a total area of ~ 6.2 million sq. ft.