chennai real estate developers across the country are planning to challenge the governments move to dilute portions of a scheme launched in 2002 that granted 100 tax exemption for 10 years to those who built industrial parksfirms in chennai pune mumbai and other cities are planning to move the court in their respective cities saying that the government has changed rules midstream well after they have signed deals with prospective clientseven though the cases were duly processed and report from the various state governments were received the fully processed applications have been returned to the applicants after a lapse of 33 months with a request to the applicant to file fresh applications to cbdt ministry of finance the department of industrial policy and promotion is well aware that not even a single application returned will qualify for it exemption under newly announced industrial park policy 2008 developers across the country contendthe amended scheme the ambit of industrial activity has been expanded to include research and development on natural sciences and engineering development of computer software and itesthe cbdt had notified the original scheme on january 8 2008 it had excluded it from the ambit of the scheme these sectors have been added after the intervention of the pmo at the behest of dipp it is same for the minimum floor area which had been enhanced earliermany of these buildersdevelopers had applied under the industrial park scheme ips of 2002 which granted tax exemption under section 80 ia of the income tax act the scheme had stipulated that each industrial park should have three tenants and comprise an area of 15000 sq m but the new policy announced and notified in 2008 the rules have been changed to include 30 tenants and a minimum area of 50000 sq mnow it is very difficult for them to create infrastructure facilities for an additional 27 units it is also very difficult to have 27 multinational tenants in the it parks and also the applicant companies have already entered into mous with mncs to lease the premises at lower rental values keeping in view the income tax exemption us 80 ia manoj bang consultant with the hyderabadbased aditya group of consultants told etsome builders et spoke to said it is impossible to arrive at these kind of tenant numbers in a single park they also objected to the clause that a single tenant occupancy must not to exceed 25many of them have created infrastructure for three companies as most multinational it ites companies who were supposed to be the target occupants for the premises and foreign exchange earners have raised security and privacy concerns if the it parks have more number of different tenantsbangalorebased silverline industries another developer has already filed a petition with the mumbai high court against the governments movea senior finance ministry official declined to comment on the specifics of the issue but added that facts and merits of individual cases would be studied as the ultimate objective is to