@Mohit Kumar Apologies for the delay in response and all the inconvenience caused because of the issue.
When we talk about Availability Zones and Availability Sets we talk about high availability of our resources.
When we Create a Virtual Machines in Availability Sets it will increase the availability of your Applications on the other hand the Availability Zones allows you to deploy your VM’s into different data centers within the same region.
Availability Zone is a Unique physical locations within a region. Each zone is made up of one or more datacenters equipped with independent power, cooling, and networking and hence are capable of providing SLA of 99.99%. You can read more about it here.
An Availability Set on other hand is a logical grouping capability for isolating VM resources from each other when they're deployed. Azure makes sure that the VMs you place within an Availability Set run across multiple physical servers, compute racks, storage units, and network switches. If a hardware or software failure happens, only a subset of your VMs are impacted and your overall solution stays operational. Availability Sets are essential for building reliable cloud solutions.You can read more about it here.
Talking about the availability zones which are not there in specific regions we have Availability Set having SLA of 99.95% as you mentioned in your query as well and same has been documented here.
Currently we have SLA of 99.99% in regions with Availability zone only and not for the Availability Set.
Hope it helps!!!
Do let me know in case of more queries.
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