The units in IT and ITeS special economic zones may soon be allowed to lease out space from their premises, giving them a rental revenue, sources said. But these units will have to form special purpose vehicles to be given the status equivalent to the developers, as only they can lease out premises in the special economic zones (SEZs). The permission for leasing out excess space would however be subject to approval from the inter-ministerial Board of Approval on SEZ, they said. Initially theRevenue Department had certain reservations on the issue. "They have come on board now". Out of 143 operational, about 60 per cent are in the IT/ITeS sector and are mostly concentrated in southern states of Andhra Pradesh, Karnataka and Tamil Nadu.
Source : Economic Times
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