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Indore: To attract investors Sinhasa IT Park, Madhya Pradesh State Electronics Development Corporation (MPSEDC) is considering giving office space to tech firms on a 30-year lease.
The Sinha IT Park under MPSEDC is spread over 112 acres on the Indore-Ahmedabad highway, has industrial plots and a four-storey building. MPSEDC has already allotted plots to 30 small and medium IT firms. One of those firms has already started operations, while two have informed the department to start work in the first quarter of the new financial year.
MPSEDC is planning to conduct online bidding for the remaining seven plots in Sinhasa IT Park in May.
Managing Director, MPSEDC Abhijeet Agarwal “We are planning to give the built up space on lease for 30 years to the buyers. The rental model is not attracting many players, so we are considering giving office space on lease for 30 years. We are hopeful that the lease model will attract companies who want to set up facilities in Indore.
The four-storey IT park has four blocks on each floor and each block is approximately 5000 sq. ft. Industry players said long driving hours and poor frequency of public transport from Indore to Sinhasa are making investors hesitant to come to the IT park.
MPSEDC is also planning to develop a plug and play facility at Sinhasa IT Park to offer ready to move in space to IT and ITeS firms.
Dwarkesh Kumar Sarraf, General Manager, MPSEDC IT Parks and Infra, said, “We are in talks with a few companies offering to lease office space in a building consisting of 4 blocks of 5000 sq ft on each floor. These are ready occupied areas which can be allotted on first come first serve basis.
Sarraf said, some business processing outsourcing companies have inquired about taking sizable plots in Sinhasa IT Park.
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