Pune: Maharashtra Government Approves IT Townships On Private Land; Announces Concessions
Pune, 21st December 2024: In a major push to the Information Technology (IT) sector, the Maharashtra government has approved the establishment of IT townships on private land, accompanied by significant concessions such as stamp duty waivers and electricity tariff reductions under its IT policy. This move is expected to boost the state’s IT industry, attract investments, and create employment opportunities.
The government has also outlined eligibility criteria for developers looking to set up private IT parks. Developers must be registered as Proprietorships, Partnership Firms, Private Limited Companies, Co-Operative Societies, or Trusts. Additionally, IT parks must consist of buildings or premises with an area exceeding 20,000 square feet.
To expedite the process, the government has mandated that applications for stamp duty and electricity duty exemptions be approved within 15 days by the competent authority.
The new IT policy aims to sustain Maharashtra’s leadership in the IT and services sectors. The policy will work to attract investments in less developed regions and creating employment opportunities for educated youth. The policy’s aim is to utilize the IT sector for the state’s overall development and to increase export turnover.
This decision is expected to accelerate the growth of the IT industry, foster regional development, and solidify Maharashtra’s position as a leading hub for technology and services in the country.
