Kerala to waive off 3 month rent for firms operating from state-run IT parks

The Kerala government has decided to waive off rent for three months for all the IT/ITeS companies who have taken up to 10,000 square ft of space for operating in government-owned buildings.

A moratorium for three months has been offered to the companies who have taken more than 10,000 square feet space in IT parks.

The rents will be for the months of April, May and June and this waiver comes on account of Covid-19.

The government has given this waiver to the incubation centres operating from the IT parks also.

It has also decided to waive the rent for all non-IT shops or establishments like restaurants functioning within the government IT parks or operating out of the government buildings.

It was also decided that the annual rent escalation of five percent in IT/non-IT office space, shops, establishments in government-owned buildings within IT parks will not be implemented during the financial year 2020-21 and the same rate card as in the last financial year will be applicable.

The government has also directed the Chief Executive Officer of the IT parks to look into the matter of subsidising the electricity tariff and the electricity charge to be re-assessed for the month of April, May and June 2020.

The decision of the government has come after the chairman, Group of Technologies (GTech) submitted a proposal seeking support to the IT/ITeS companies/establishments operating from the buildings owned by Government IT Parks to tide over the difficulties the companies have to face during the crisis.