An unfriendly policy for software technology parks (STP) and high property taxes seem to have driven IT companies away from the city, including, recently, a large multinational looking for 6 lakh sq. ft.
reports the Hindu.
There as been no new proposal for an STP in Pune since 2008. The taxes in Pune are a minimum of Rs. 4.50 and can go up to Rs. 9, compared to Bangalore (Re. 1), Hyderabad (80 paise), and Chennai (50 paise).