Sunil Mantri Realty today said it will develop an "affoardable" special economic zone over

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40 lakh sq ft area in Nagpur.

"We plan to market our Nagpur SEZ as an affordable IT SEZ. We will fix a rental of Rs 16 per sq ft and Rs 1,600 for long-lease," company's Chairman Sunil Mantri told PTI here today.

Apart from the affordable tag, the SEZ will also be "green" and eschew high-rises, he said.

"We intend to give emphasis to natural light and air-circulation in the offices so that companies can reduce their electricity consumption and thereby be cost-effective. Our SEZ will be an environment-friendly one," Mantri said.

To be developed over 40 lakh sq ft, the SEZ would have only two to three story buildings which will further reduce costs, he added.

The SEZ will have a ratio of 1:1 between commercial and residential development.

"Our experience is that if you provide all amenities at lower costs, companies will come to you," he said, citing the example of an American company that bought space in its IT park in Kolhapur.