Section 5(7) in The Special Economic Zones Rules, 2006
(7)[ The Developer or Co-developer shall have to construct the minimum built up area specified in this rule within a period of ten years from the date of notification of the Special Economic Zone become in which at least fifty percent of such area to be constructed within a period of five years from the date of such notification.] [Inserted by Notification No. G.S.R. 501 (E), dated 14.6.2010 (w.e.f. 10.2.2006).][Provided that the Board of Approval may, upon request in writing by the Developer, and after being satisfied that it is necessary and expedient to do so, grant extension beyond the said period of ten years for a further period of not exceeding one year, at a time, subject to maximum upto ten such extension.] [Inserted by Notification No. G.S.R. 940(E), dated 17.12.2019 (w.e.f. 10.2.2006).]
