National Regeneration Programme (NRP) for Mahebourg
22 Dec 2020
The Economic Development Board has approved an area regeneration plan (ARP) for Mahebourg for the restoration, consolidation, and improvement of the built fabric in respect to public and private buildings, infrastructure and landmark sites within a defined boundary.
The NRP is expected to enhance the environment and amenities in the interests of residents, businesses, visitors and foster a more sustainable development patterns and promote tourism. The regeneration of Mahebourg will offer developers, landowners and entrepreneurs to participate in the social, economic and environmental upliftments in the region with creation of jobs and improvements in standard of living of people.
A local authority or a group of landowners or any person having a development proposal to be carried out within the area regeneration plan may submit an application to the EDB for registration as NRP developer. The NRP is entitled to benefit from fiscal incentives comprising:
Fully recovery of VAT on buildings and capital goods;
- Claim for a repayment of input tax in respect of buildings and capital goods;
- Exempt from income tax with respect to smart parking;
- Customs duty exemption on imports of any dutiable goods, other than furniture, to be used in infrastructure works and construction of buildings; and
- a deduction of the capital expenditure incurred on approved renovation and embellishment works in the public realm from its gross income in income year in which expenditure is incurred.
Projects under the NRP are encouraged to adopt technology to develop smart infrastructures and services, to make the existing towns and large villages to graduate into smart cities.