To the great relief to the IT/ITes Companies and Establishments operating from the Government owned buildings, the government on Monday has announced resurgent measures to tide over the economic crisis faced by these companies due to the outbreak of Covid-19 and subsequent lockdown. The decision has been made by the government to waive off the rent for the months of April, May and June for all those IT/ITeS companies who have taken up to 10,000 sq.ft of IT space for rent. The same is applicable to the incubation centers operating from the IT parks. A moratorium for three months have been offered to those companies who have taken more than 10,000 sq.ft space in the IT parks.
Rent has also been waived for all non-IT shops or establishments like restaurants functioning within the Government IT parks who operate out of the government buildings. The annual rent escalation of 5 percent in IT/ non IT office space, shops establishments in government owned buildings within IT parks will not be implemented during the financial year 2020-22 and the same rate card as in the last financial year will be applicable. Surcharge on rental is also waived across all categories for six months, i.e. from April to September of 2020. As a special scheme, IT/ ITeS companies who have started operation on or before the 31st March 2021 at any of the government IT parks may avail rent waived for the first three months on operation commencement.
Since with the lockdown there has been a considerable level of reduction in the usage of power and the benefit of reduction in electricity bill will be extended to the end user. The Chief Executive Officer of the IT parks has been entrusted to look into the matter of subsidizing the electricity tariff and the electricity charge to be re-assessed for the month of April, May and June 2020. The requests of tenants/clients who have taken land on long term lease from the IT parks to be given up to six months of additional time for commencement or completion of building over and above the deadline as per the agreement. Concessions on penalty in this regard will be evaluated and recommended by an expert committee comprising of the Chief Executive officer, IT Parks Kerala (Convener), Managing Director, Kerala State IT Infrastructure Ltd (KSITIL), Chief Executive Officer, Kerala StartUp Mission (KSUM) and Director, Kerala State IT Mission.
The decision of the government has come after the Chairman, Group of Technologies (GTech) has 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 pandemic crisis.