INDORE: Madhya Pradesh State Electronics Development Corporation (MPSEDC) has allotted around 15,000 sq ft area to three companies in the Sinhasa IT Park building for setting up a defence incubation center and export-oriented software development project.
MPSEDC is expecting an investment of around Rs 10 crore in the first phase by these companies.
Dwarkesh Kumar Sarraf, general manager, IT Parks and Infra, MPSEDC said, “In January, we allotted space to two companies including a public sector undertaking while one IT firm was allotted the space in October last year. A total of three companies have now taken up space in the Sinhasa IT Park building.”
The public sector undertaking is opening a training and research center for Artificial Intelligence and Machine learning for defence projects, said Sarraf.
MPSEDC is leasing out office spaces to tech firms on the four storied IT Park building at Sinhasa that has four blocks and was developed at a cost of around Rs 26 crore.
Total saleable area in the IT Park building is close to 80,000 sq ft, according to MPSIDC. MPSEDC plans to lease out different portions on the four storied IT Park that has four blocks at every storey.
Sarraf said, “After the rental model did not work, we took an approval to offer spaces on lease and this worked for us. Industry players are showing interest in taking up spaces on lease. A BPO is in talks for investment in the IT Park building.” MPSEDC is also planning to develop a plug and play facility for IT/ITES companies at Pardesipura Electronic Complex. The estimated cost of the project is around Rs 165 crore. More than 300 IT companies and 1,000 startups operate from Indore. TNN
Published On Feb 6, 2024 at 11:00 AM IST
Join the community of 2M+ industry professionals
Subscribe to our newsletter to get latest insights & analysis.
We provides services in the real estate market catering to residential & commercial buyers and sellers, financiers & investors. Our expert advisory will help to fulfil the requirement of our customers & associates.