Industrial park approval under Section 80IA enables tax benefits subject to prescribed operational and compliance conditions. The Central Government notifies M/s. Khivraj Tech Park Private Limited's development at Plot No.1, Guindy, Chennai, as an industrial park for purposes of Section 80IA(4)(iii), subject to specified terms: defined location and area, permitted industrial activities, allocable area percentages, minimum number of units, commencement date, and investment thresholds. Conditions include minimum infrastructure expenditure, common facilities on commercial terms, a fifty percent occupancy cap per unit, separate statutory and FDI approvals, tax benefits only after minimum units are located, mandatory continued operation by the undertaking, and requirements for transfer intimation; non-disclosure, unapproved amendments, delays, or non-compliance invalidate approval.