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Sinhasa IT Park, a technology and business hub under the jurisdiction of the Madhya Pradesh State Electronics Development Corporation (MPSEDC), is looking to attract more tech companies by offering office space on a 30-year lease. Located on the Indore-Ahmedabad highway, the 112-acre park features both industrial plots and a four-story building.
Up to this point, MPSEDC has already allocated plots to 30 small and medium-sized IT firms, with one of them having commenced operations and two more planning to start during the first quarter of the new fiscal year. In May, MPSEDC will initiate an online bidding process for the remaining seven plots in Sinhasa IT Park.
Each floor of the four-story IT Park building contains four blocks, with each block measuring approximately 5,000 square feet. However, potential investors have expressed concern about long driving hours and the lack of reliable public transportation from Indore to Sinhasa.
To address these issues and further entice tech companies, MPSEDC is developing a plug-and-play facility at Sinhasa IT Park. This will offer ready-to-move-in spaces for IT and ITES firms, providing a more seamless transition for businesses.
In addition to smaller IT firms, several Business Processing Outsourcing (BPO) companies have expressed interest in acquiring larger plots within Sinhasa IT Park. The new 30-year lease option is expected to make the park more appealing to a broader range of technology companies, ultimately contributing to the region's economic growth.
To further bolster the attractiveness of Sinhasa IT Park, the MPSEDC is working closely with local authorities and transportation agencies to improve the connectivity and infrastructure in the area. This includes the possibility of introducing new public transportation routes, improving road conditions, and potentially implementing shuttle services for employees working at the park.
Moreover, Sinhasa IT Park management is exploring partnerships with nearby educational institutions to establish research and development facilities, internship programs, and collaborative projects. This would not only benefit the companies operating within the park but also help create a talent pool of skilled professionals in the region.
Additionally, the MPSEDC is considering tax incentives and other financial benefits to further entice tech companies to establish their operations in Sinhasa IT Park. These incentives could include reduced property taxes, discounted utility rates, and grants for research and development projects.
In conclusion, Sinhasa IT Park is implementing new strategies to attract more tech companies, offering office spaces on a 30-year lease and developing a plug-and-play facility. These changes, along with potential improvements to connectivity, infrastructure, partnerships with educational institutions, and financial incentives, aim to provide a more attractive environment for businesses and promote economic development in the Indore region.
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