Vatika gets nod for IT park in Jaipur

Jaipur: Vatika Group has secured the government's nod for a Rs 21-billion ($450 million) IT park as a special economic zone (SEZ) in Jaipur, the company said in a statement Tuesday.

"The entire IT SEZ project would be developed in phases spread over a period of three to four years, with the initial development plan targeting an area of a million square feet," the company said.

"The SEZ area would be developed as a self-contained IT Park with infrastructure facilities for complete power backup, adequate parking in multilevel basement, its own water supply and sewage treatment system."

The first phase is expected to commence in six months from now, the company said, adding that the project was coming up on Ajmer Road, west of Jaipur, which is well connected with an eight-lane expressway.

The project will get a tax holiday of 100 per cent for the first five years and 50 per cent for subsequent five years as per the central government's policy for such zones.

"Other sops include exemption from customs duty, central excise, service tax, education cess, central sales tax, and all local taxes levied by the state."

"We are happy to receive the IT SEZ approval for the 53-acre IT park at Vatika Infotech City and proud to contribute to the IT development in Rajasthan," said Gaurav Bhalla, director for marketing and operations at the Vatika Group.

The new park will have social support system such as service apartments, banks, ATMs, health clubs, recreational club, medical back up facilities, training and convention centres and convenience retail stores.

The project will be designed by a consortium of international architects and conform to global practices in order to meet the standards specified by the companies in the high-tech industry.

Vatika InfoTech City is being developed on the lines of a 'Walk to Work' concept and is spread over 808 acres. In addition to its 53-acre IT Park, the township will offer a mix of plots, built up bungalows, housing and condominiums.

"A total development of 10,800 dwelling units shall be housed in this area to cater to a population of 43,200 people."