Home Acts & Rules Direct Taxes Schemes Industrial Park Scheme, 2002 This
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Para 6 - Criteria for automatic approval - Industrial Park Scheme, 2002Extract Criteria for automatic approval. 6. An undertaking which seeks approval under paragraph 5, shall fulfil the following conditions, namely : (a) The minimum area required to be developed for an Indus trial Model Town shall be 1,000 acres : Provided that the minimum area for specified Industrial Park referred to in clauses (b) and (c) of paragraph 4 may vary depending upon their activities; (b) the project referred to in clauses (a), (b) and (c) of paragraph 4 shall have provision for the location of minimum number of industrial units as follows : Table Type of industrial park Minimum Number of units to be provided in the Industrial Model Town/Industrial Park/Growth Centre (1) (2) (i) Industrial Model Town referred to in clause (a) of paragraph 4 50 units; (ii) Industrial Park referred to in clause (b) of paragraph 4 30 units; (iii) Growth Centre referred to in clause (c) of paragraph 4 30 units; (c) the minimum percentage of the area to be allocated for industrial use shall not be less than sixty-six per cent of the total allocable area. Explanation.For the purpose of this clause, the industrial use shall include any activity defined in the National Industrial Classification 1987, Code issued by the Central Statistical Organisa tion, Department of Statistics, Ministry of Planning and Pro gramme Implementation, except the following : Section 0 Section 1 Section 5 Section 7 excluding Division 75 Section 8 excluding Groups 892, 893, 894, 895 Section 9 Section X Section XI; (d) the percentage of land to be earmarked for commercial use shall not be more than ten per cent of the allocable area; (e) in case of an Industrial Model Town, Industrial Park and Growth Centre, the minimum investment on infrastructure development shall not be less than 50% of the total project cost. In the case of an Industrial Park and Growth Centre which pro vides built-up space for industrial use, the minimum expenditure on infrastructure development including cost of construction of industrial space, shall not be less than 60% of the total project cost; (f) no single unit referred to in column (2) of the Table given in sub-paragraph (b) of paragraph 6 shall occupy more than fifty per cent of the allocable industrial area of an Indus trial Model Town or Industrial Park or Growth Centre; (g) every undertaking being an industrial park shall obtain approval for foreign direct investment or non-resident Indian investment from the Foreign Investment Promotion Board or Reserve Bank of India, or any authority specified under any law for the time being in force, as the case may be.
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