The Space Challenge SEZ India Invest - Article
The Space Challenge
One of the largest challenges faced by the occupiers of space under the erstwhile STPI ruling is that there is no other space to consider barring a SEZ that offers tax benefits. The further challenge to obtain space in an SEZ is the area being offered by the developers which is too large to accommodate a medium or small enterprise. The sheer administrative responsibilities that come with allowing a company to occupy SEZ space make it prohibitive for a developer to consider managing multiple small units of space with different tenants or financially viable for an occupier to pay for unutilised space.
The future for the SEZ Model lies in the ability of developers to meet the requirements of these occupiers who were in a position to obtain smaller units of space under the STPI Regime. A larger percentage of currently eligible SEZ occupiers fall into this category and are the prime focus of the tax incentives as extended by the government. A larger occupier already has the resources to develop and manage their own SEZ units while obtaining tax sops. The government is taking positive steps towards the revival of the SEZ scheme and it will be very reassuring to both developers and occupiers to see the result of these changes. A specifically positive step taken is the reduction in the minimum area required for the development of SEZ especially in the Tier-2 cities. Further by reducing the space requirement for industries apart from IT/ITeS, it ensures that there is an all round development across sectors.
Serviced SEZ Units from Stylus
Stylus today manages and operates approximately a lakh square foot of serviced office space across Mumbai and Bangalore that caters to companies of various sizes and across a spectrum of industries. Our core competency lies in the fact that we can provide the best office solution to cover all aspects of running an office including workspace, administrative responsibilities, cleaning services, Security, apart from providing office services such as courier, stationery, telephone & internet connectivity.
Our unique model - Serviced SEZ Units - allow for an occupier to consider small units of serviced office space with the tax benefits offered by an SEZ. This addresses the issue of lack of availability of small space along with the convenience of having your office space serviced and supported by an experienced team of professionals ensuring that your team can focus on your activity. The units in the serviced SEZ Units at Manyata Embassy Business Park start from 22 seats including a manager cabin and a small discussion room to complete the office area. Further, a data centre is available to ensure you have access to connectivity with appropriate cooling and power supply. Needless to say, the security measures in place are of the highest standard to ensure there is no compromise on physical safety and intellectual property.
Operating out of a Serviced SEZ Units cuts back on the capital investment, lock-in period and other such prohibitive terms of a typical transaction. Further, because the units are designed for smaller teams, it ensures that there is minimal wastage of under ultilised resources there by maximising your returns.