The Madhya Pradesh Industrial Development Corporation (MPIDC) is in the process of formulating a revenue model to lease office spaces at the upcoming IT Park 4 in Indore’s Pardeshipura area before starting the allotment process.

MPIDC’s Indore regional office has submitted a proposal to its head office on floor-wise space allocation, incorporating feedback from tech firms and startups. Interest has been shown by companies from Bangalore, Maharashtra, and Delhi.

“Office spaces in IT Park 4 should suit the requirement of most industries to have full occupancy. For this we had invited feedbacks and suggestions from the industry to know their specifics and demands. Now, we are in a stage to finalise how to offer office spaces on every floor, like will it be dedicated floors to big companies or shared floor by a few units. We have already sent a proposal to our head office and awaiting a nod,” said MPIDC Indore Executive Director Himanshu Prajapati. 

The Rs 42 crore project covers 70,000 sq. ft. across seven floors, expected to attract Rs 500 crore investment, and create 4,000 employment opportunities.