28 IT companies owe Rs.50 M rent
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28 IT companies owe 50 M rent

Monday, 31 January 2005, 08:00 Hrs
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THIRUVANANTHPURAM: Twenty-eight IT companies at the Technopark campus in the Kerala state capital have not paid up rents that total 50.9 million ($1.1 million).

This was conveyed by Kerala Chief Minister Oommen Chandy Monday to the Kerala Assembly here in response to a question raised by Congress legislator M.A. Waheed.

US Software heads the list of companies with 13.1 million outstanding rent dues, followed by Geosoft Technologies with 6.2 million and Enter Technologies with 6 million, according to a list given to the house.

Sixty-five companies operate from the Technopark where around 6,000 people are employed.

M. Vasudevan, business development manager of Technopark, said the figures were in no way alarming.

"One reason for the outstanding dues is that there is a delay in getting bills cleared from clients. Companies also give first priority to paying salaries. Some companies have reserved space but are yet to begin operations. But, on the whole, this is not a huge amount," said Vasudevan.

Sunil Gupta, president of G-Tech Group of Companies, the association of the Technopark companies, said: "We have not taken up this issue within our association because Technopark has not asked us anything on this. Some companies may be waiting to hear about certain charges levied with retrospective effect recently by Technopark, and might have held up the rent payment."

In comparison with other cities in the country Technopark reportedly levies the lowest rentals by charging 19 per square feet, while it is 54 in Bangalore, 42 in Chennai and 38 in Hyderabad.



Source: IANS
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