RAHEJA'S SEZ CLOSE TO BOOKING 1 LAKH SQ FT

Amit Arora. Ahmedabad
DNA

K Raheja Corp's Gandhinagar-located Mindspace IT Special Economic Zone (SEZ) is expected to be the first such zone in Gujarat to become operational. Even as the first phase of the project is expected to be completed by March 2009, the company has almost finalised deals for over one lakh square feet of space. What's more, the IT SEZ may become gateway for entry of several industry biggies in Gujarat.

The development holds significance in the light of the fact that time is running out for IT firms in the state, since benefits under STPI scheme may come to an end in March 2009. In such a scenario, having unit in an SEZ would be the only way for the companies to claim the tax exemptions.

According to head, Gujarat business development, K Raheja Corp, Pankaj Kotak, five IT majors from the existing clientele of the company are about to sign on the dotted line to book space in Mindspace, Gandhinagar. All the deals are expected to come through before the end December. Though Kotak refused to disclose the names of the companies, the list of clients may include IT firms such as Oracle, IBM, Accenture, Convergys and ICICI oneSource.

So far country's IT biggies, except for Tata Consultancy Services (TCS) and L&T Engineering, have eluded the state. On the other hand, Mindspace is expected to spare up to two floors for smaller companies of the state. "IT association, Gesia had approached us to make available smaller areas for Gujarat-based firms. So we will keep one or two floors - up to 35,000 square feet - for leasing out to these IT companies as per their requirement. It will be like an incubator for the small players as there will be no lower limit on area to be rented," Kotak said