AP govt announces rent guarantee incentive for IT park developers

The guarantee period increases in sync with the amount of space built

Andhra Pradesh government has announced a rent guarantee scheme for the technology park developers as part of  Designated Technology Park(DTP)  Policy 2017-2020 to encourage creation of new IT office space in the state.

Under this policy, the state government will guarantee 50 percent of rent for the unoccupied portion of a designated technology park to an extent of 70 per cent of the built up space.

The rent guarantee period increases with the increase in the amount of space built, starting from 18 months to a maximum period of 36 months. However, if the office space achieves 70