INDORE: The Madhya Pradesh Industrial Development Corporation (MPIDC) is crafting a revenue model aimed at providing office spaces to tech companies in the forthcoming IT Park 4, located in the Pardeshipura area, prior to launching the allotment process.
The MPIDC’s regional office in Indore has proposed a plan to its head office for office space distribution across various floors of the under-construction IT Park 4. This proposal is based on input from tech firms and startups keen on occupying the new park, with interests reportedly coming from companies in Bangalore, Maharashtra, and Delhi.
“To ensure full occupancy in IT Park 4, the office spaces should cater to the needs of various industries. We sought feedback and suggestions from the industry to understand their specific requirements. We’re now in the process of finalizing the office space distribution per floor—whether certain floors will be designated for larger companies or shared among multiple smaller units. Our proposal has already been sent to the head office, and we are awaiting approval,” MPIDC Indore Executive Director Himanshu Prajapati stated.
The corporation aims to begin bookings for all seven floors of IT Park 4 by September or early in the third quarter of this fiscal year. Officials indicate that the office spaces will be leased for a period of 30 years.
The project carries an estimated cost of Rs 42 crore, with MPIDC striving to attract over Rs 500 crore in investments for IT Park 4. Furthermore, bookings will open for around 70,000 sq ft, and the project is expected to create job opportunities for approximately 4,000 individuals, according to MPIDC.
