After frustrating traditional bid attempts for its SEZ-categorised IT parks in Indore, Bhopal, Gwalior and Jabalpur, the Madhya Pradesh government is likely to re-bid for the parks through Swiss Challenge System, under which the government can also take offers from private parties, unsolicited. It is also likely to change the model of sale of IT parks so that the developers can attract private partners. Crystal IT park in Indore, a complete infrastructure of eight-storied building, has no taker for years, and the Bhopal IT park is reportedly going the same way before it can see the light of day. Few months back Zoom Developers pulled out of the Crystal IT park project after successfully bidding for it.
The state cabinet had allotted Bhopal IT park to Unitech last year in June for a sum of Rs 61.10 crore. But the company has yet to develop the park. The Jabalpur IT park is to be developed on 90 acres (in Purva village) and the Gwalior IT park has been handed over to local players to develop it on 29.65 acres in Malanpur.
Sprawling on an area of 212 acres, the Bhopal IT park is to be developed in Barwai village. It has already been given special economic zone status. “Unitech has to develop 2 lakh sq metres with various facilities but work has yet not been started, since our all IT parks have been awarded special economic zone status, there are certain provisions, which private developers may likely to be changed. If things do not happen in a positive way, we will have to change the model and invite bids through Swiss Challenge system,” said a senior official in the government. However, Unitech has said it is in the Bhopal project and has no intentions to pull out of it.
The Bhopal IT park has been valued at Rs 3,000 per sq ft and it is to be developed on an area of 180 acres. Thus the price of the land is Rs 218.53 crore. However, it had been priced at only Rs 54.64 crore as IT Policy of the state permits the state government to offer land at 25 per cent of the actual value. As many as ten IT companies have evinced interest in the park.
