 "IT industry")
The Kerala government has announced relief measures, including waiver of rent for certain months to IT and IT enabled Services (ITeS) companies, incubators and establishments operating from the government-owned IT parks in view of the tough economic situation being faced by these companies.
The government has waived rent for the months of April, May and June 2020 for all IT and ITeS companies which have taken upto 10,000 sq ft of space on rent. Rent has also been waived for these three months for the incubation centres operating from the IT Parks, irrespective of the area occupied. IT and ITeS companies which have taken more than 10,000 sq ft of space have been offered a moratorium on rent for three months. These companies have been allowed to pay the rent for April, May and June, 2020, by July, Aug and September 2020, respectively, without any penalty or surcharge.
For all non IT establishments (restaurants etc), functioning within the government IT parks and operating out of government buildings, rent has been waived for three months from April to June 2020.
Chief Minister Pinarayi Vijayan said that the annual 5 per cent hike in rents for IT and non IT office spaces, shops and establishments in government-owned buildings within IT parks would not be implemented during the financial year 2020-21.
Surcharge on rental has also been waived across all categories for six months - from April to September 2020. Under a special scheme, IT and ITeS companies, which start operations on or before March 31, 2021 at any of the government-owned IT Parks can avail a rent waiver for the first three months on commencement of operations.
As the power consumption will fall considerably due to the non functioning of the companies in IT Parks during the
lockdown period, the benefit of reduction in electricity bills will also be extended to the end users. The Chief Executive Officer, IT Parks, Kerala has been asked to look into the subsidising of electricity tariffs.
The requests of tenants, or clients, who have taken land on long term lease from the IT Parks who have sought upto six months of additional time for commencement or completion of buildings, over and above the deadline in line with the agreement and concessions on penalty in this regard, will be evaluated and recommended by an expert committee.
