Maharashtra Government sanctions ITES policy 2015

The State Government of Maharashtra has given its nod to the new Information Technology Enabled Services (“ITES”) policy which shall be effective from 30th June 2015. The key highlights of ITES policy 2015 are as under:

  1.  The policy aims to make State of Maharashtra an IT, animation and gaming hub by attracting investment worth INR 50,000 crores and creating 1 million jobs in next 5 years i.e. by 2020;
  2. Offers 200% additional Floor Space Index (“FSI”) over the base FSI for IT parks; simplifying the rules for payment of premium for getting additional FSI which is consumed in which will be calculated at 30% of ready reckoner rates (“RRR”) of the flat in Mumbai, Mumbai Metropolitan Region (“MMR”) and Pune whereas, in the rest of the Maharashtra it will be charged at 10% of the RRR;
  3. Promotes walk-to-work concept by proposing the construction of IT townships (at permissible 2.5 Floor Space Index (FSI) in Mumbai, MMR and Pune & permissible 2 FSI for rest of the Maharashtra) along with residential apartments and social infrastructure such as schools, hospitals, multiplexes, malls and parks etc. Also special incentives have been proposed for setting up BPOs in rural and semi-urban areas;
  4. Payment of stamp duty, electricity duty, value added tax and local taxes such as entry tax etc. has been exempted and electricity will be offered to the IT sector at the industrial tariff, which is lower than what the commercial sector pays;
  5. Property tax will be charged on the units of IT industry at the residential rate and not at commercial rates.

Last two IT policies of State in 2003 and 2009 had played important role to attract investments and have created many private and public IT parks also creating direct jobs. Thus the move is crucial to boost IT-enabled industries in the State and create maximum jobs in the direction of generating employment.

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