In response to tepid interest in its rental model, the Madhya Pradesh State Electronics Development Corporation (MPSEDC) is introducing a 30-year lease for IT and ITES firms at Sinhasa IT Park. Located along the Indore-Ahmedabad highway, the park spans 112 acres. The move aims to attract tech businesses looking for long-term commitments. This development coincides with MPSEDC's initiative of constructing a dedicated building for IT companies at the Electronic Complex, marking its determination to bolster the region's tech infrastructure.
The Madhya Pradesh State Electronics Development Corporation (MPSEDC) has shifted gears by introducing a 30-year lease option for office spaces at Sinhasa IT Park. This strategic move comes after the rental model received a tepid response from potential occupants.
MPSEDC's board recently gave its approval to offer long-term leases for IT and ITES companies, laying the foundation for a more sustained partnership with tech firms. As Abhijeet Agrawal, MPSEDC's Managing Director, noted, "The lack of enthusiasm for the rental model prompted us to propose a more extended lease. With the board's approval now in hand, we anticipate releasing tenders and inviting Expressions of Interest (EOI) within the forthcoming 10 days."
Sinhasa IT Park, sprawling over 112 acres along the Indore-Ahmedabad highway, not only offers vast industrial plots but also boasts a four-story building, with four blocks on each floor. As part of their proactive approach, MPSEDC has sought feedback from various industry stakeholders. Taking note of the industry pulse, they believe this revised lease strategy will attract more tech firms, especially considering the strategic advantages of Sinhasa IT Park. Industry insiders echo this sentiment, highlighting the appeal of areas like the Super Corridor and Vijay Nagar, thanks to their superior connectivity and resource availability.
Adding to the optimism, an MPSEDC official revealed that a public sector enterprise has shown interest in setting up a training centre at the park. Negotiations are ongoing, but the potential deal could occupy approximately 20,000 sq ft of space.
The corporation's proactive approach is evident in their previous initiatives. The Sinhasa IT Park already hosts 30 small to medium-scale IT companies that have secured plots. MPSEDC isn't limiting its vision to Sinhasa IT Park either. Plans are in motion to erect a dedicated building for IT and ITES companies at the Electronic Complex. This ambitious project carries an estimated cost of around Rs 165 crore.
In conclusion, MPSEDC's pivot from a rental to a lease model reflects their adaptability and commitment to fostering a thriving tech ecosystem in Madhya Pradesh. With its strategic location and resources, Sinhasa IT Park is poised to become a central hub for IT and ITES firms in the region.
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