CSEZ - Cochin Special Ecocnomic Zone

In accordance with the guidelines of the Department of Commerce, CSEZ Administration has been enhancing the lease rentals by 25% every three years. However, concerns have been expressed by various units on the rate and periodicity of enhancement. The views of the units were ascertained during a meeting convened by the Development Commissioner, CSEZ on 3.3.2006. After giving due consideration to the views of the units, it has been decided as under:

a) All units that have executed lease deeds would be liable to rental enhancement of 15% w.e.f.1.1.2006 until further orders, as and when rental enhancement becomes due as per their lease deeds.
b) The upper limit shall be Rs.720/- per square metre and Rs.95/- per square metre per annum for built-up space and land allottees respectively, till new ceiling rates are fixed.
c) All those units whose rents have not been enhanced owing to failure to execute lease deeds, shall have enhancements on due dates as per old rate of 25% with 15% becoming applicable if the lease deeds are executed and rentals are due for further enhancements after 1.1.2006.
d) All units which have not executed lease deeds shall execute them by 15.4.2006, failing which Letter of Permission/Approval is liable to be cancelled.
e) All units should settle their lease rent arrears by 30.4.2006.