At Sinhasa IT Park, office space on 30-year lease to attract tech firms

April 4, 2023
At Sinhasa IT Park, office space on 30-year lease to attract tech firms

INDORE: To attract investors for Sinhasa IT Park, Madhya Pradesh State Electronics Development Corporation (MPSEDC) is contemplating to offer office spaces on 30 years lease to tech firms.

Sinhasa IT Park under MPSEDC spread across 112 acre on Indore-Ahmedabad highway, houses industrial plots and a four storey building. MPSEDC has already allotted plots to 30 small and medium scale IT firms. O them, one firm has already started operation, while two have intimated the department to start functioning in the first quarter of the new fiscal.

MPSEDC is planning to float online bids in May for the remaining seven plots in Sinhasa IT Park.

MPSEDC managing director Abhijeet Agrawal said, “We are planning to offer the built up space on a 30-year lease to takers. The rental model is not attracting many players so we are contemplating to offer office spaces on lease for 30 years. We expect the lease model will attract players looking to set up facilities in Indore.”

The four storey IT Park has four blocks at every storey and each block is around 5000 sq ft. Long driving hours and poor frequency of public transport from Indore to Sinhasa are making investors hesitant in coming to the IT Park, said industry players.

MPSEDC is also planning to develop a plug and play facility at Sinhasa IT Park to offer ready to move in spaces to IT and ITES firms.

MPSEDC IT Parks and Infra general manager Dwarkesh Kumar Sarraf said, “We are in talks with a few companies to offer office spaces on lease in the building that has 4 blocks of 5000 sq ft at each floor. These are ready possession areas that can be allotted on a first come first serve basis.”

Sarraf said, a few Business Processing Outsourcing companies have enquired about taking large size plots in the Sinhasa IT Park.

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