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

The Madhya Pradesh State Electronics Development Corporation (MPSEDC) has received board approval to offer office space to IT/ITES companies on a 30-year long-term lease at Sinhasa IT Park.

With limited interest in the rental model, MPSEDC now plans to invite Expression of Interest (EOI) from technology companies to the available carpet area at Sinhasa IT Park.

Abhijeet Agrawal, Managing Director, MPSEDC said the rental model did not attract many takers. Therefore, they proposed the 30-year leasehold option, which has been approved by the board. The organization will soon issue tenders to invite EOI from interested parties.

The plan is to rent out different parts of the four-story IT park, which consists of four blocks on each floor. MPSEDC has sought suggestions from industry players and hopes the leasing model will attract technology companies to take up 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 technology companies due to their excellent connectivity and resource availability. They expect that the long-term leasing model will entice industry companies to settle in the Sinhasa IT Park.

In addition, a public sector company is in talks with MPSEDC to set up a training center in Sinhasa IT Park, which will occupy about 20,000 square meters of space. Spread over 112 acres on the Indore-Ahmedabad highway, Sinhasa IT Park under MPSEDC currently houses industrial plots and a four-story building. MPSEDC has already allocated plots to 30 small and medium-sized IT companies in the park.

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