MPSEDC offers 30-year leases to Tech Firms at Sinhasa IT Park

04 Aug 2023 CW Team

The Madhya Pradesh State Electronics Development Corporation (MPSEDC) has obtained approval from the board to offer office space to IT/ITES firms on a long-term lease of 30 years at Sinhasa IT Park.

Since there was limited interest in the rental model, MPSEDC is now planning to invite Expression of Interest (EOI) from tech firms for the available carpet area in Sinhasa IT Park.

Abhijeet Agrawal, Managing Director, MPSEDC mentioned that the rental model did not attract many takers. Consequently, they proposed the long lease option for 30 years, which has been approved by the board. The organisation will soon release tenders to invite EOI from interested parties.

The plan is to lease out different portions of the four-storied IT Park, which consists of four blocks on each floor. MPSEDC has sought suggestions from industry players and hopes that the lease model will attract tech firms to occupy space in the Sinhasa IT Park based on the feedback received.

Industry players have pointed out that the Super Corridor and Vijay Nagar areas are well-suited for tech firms due to their excellent connectivity and availability of resources. They expect the long-term lease model to entice companies from the industry to set up in the Sinhasa IT Park.

Additionally, a public sector company is in discussions with MPSEDC to establish a training center at Sinhasa IT Park, occupying around 20,000 sq ft of space. Spread across 112 acres on the Indore-Ahmedabad highway, Sinhasa IT Park under MPSEDC currently houses industrial plots and a four-storied building. MPSEDC has already allocated plots to 30 small and medium-scale IT firms in the park.

Furthermore, MPSEDC is actively developing a building dedicated to IT/ITES companies at the Electronic complex, with an estimated cost of around Rs 1.65 billion.

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