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                  UNITED STATES
       SECURITIES AND EXCHANGE COMMISSION
             Washington, D.C. 20549

                  FORM 12b-25
                                           -------------------------------------
           NOTIFICATION OF LATE FILING                  SEC FILE NUMBER: 1-10932
                                                       CUSIP NUMBER: 454073-10-7
                                           -------------------------------------





(Check One):   [  ] Form 10-K and Form 10-KSB [  ] Form 11-K [  ] Form 20-F
               [ X ]Form 10-Q and Form 10-QSB [  ] Form N-SAR

               For Period Ended: March 31, 2003
                                 -----------------
               [  ] Transition Report on Form 10-K
               [  ] Transition Report on Form 20-F
               [  ] Transition Report on Form 11-K
               [  ] Transition Report on Form 10-Q
               [  ] Transition Report on Form N-SAR
               For the Transition Period Ended: __________________________

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  Read Instructions (on back page) Before Preparing Form. Please Print or Type.
    Nothing in this form shall be construed to imply that the Commission has
                   verified any information contained herein.
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If the notification relates to a portion of the filing checked above, identify
the Item(s) to which the notification relates:

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                        PART I - REGISTRANT INFORMATION

                        INDEX DEVELOPMENT PARTNERS, INC.
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                             Full Name of Registrant


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                            Former Name if Applicable


                          125 Broad Street, 14th Floor
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            Address of Principal Executive Office (Street and Number)

                            New York, New York 10004
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                            City, State and Zip Code

                       PART II - RULES 12b-25 (b) AND (c)

If the subject report could not be filed without unreasonable effort or expense
and the registrant seeks relief pursuant to Rule 12b-25(b), the following should
be completed. (Check box if appropriate)

          (a)  The reasons  described in  reasonable  detail in Part III of this
               form could not be  eliminated  without  unreasonable  effort : or
               expense;

          (b)  The subject annual report,  semi-annual report, transition report
               on Form 10-K, Form 20-F,  11-K,  Form N-SAR, or portion  thereof,
  [ X ]        will be filed on or before the  fifteenth  calendar day following
               the  prescribed  due date;  or the  subject  quarterly  report or
               transition  report on Form 10-Q or Form 10-QSB or portion thereof
               will be filed on or before the fifth  calendar day following  the
               prescribed due date; and

          (c)  The  accountant's  statement  or other  exhibit  required by Rule
               12b-25(c)  has  been  attached  if   applicable.




                             PART III - NARRATIVE

State below in reasonable detail the reasons why the Forms 10-K,  10-KSB,  20-F,
11-K, 10-Q,  10-QSB,  N-SAR, or the transition report or portion thereof,  could
not be filed within the prescribed time period. (Attach Extra Sheets if Needed)

The  Company's  Quarterly  Report on Form 10-QSB for the quarter ended March 31,
2003 could not be completed in time without  unreasonable  effort and expense to
the Company because the Company does not have a full-time  accounting staff and,
as a result,  has been unable to accurately and completely compile the financial
information required to be included in the Form 10-QSB.


                           PART IV - OTHER INFORMATION


(1)  Name  and  telephone  number  of  person  to  contact  in  regard  to  this
     notification

               Jonathan L. Steinberg              (212)           742-2277
              -----------------------          -----------        --------
                   (Name)                      (Area Code)    (Telephone Number)

(2)  Have all other periodic  reports  required under Section 13 or 15(d) of the
     Securities Exchange Act of 1934 or Section 30 of the Investment Company Act
     of 1940 during the preceding 12 months or for such shorter  period that the
     registrant was required to file such report(s) been filed? If answer is no,
     identify report(s)

                                                [    ] Yes        [ X  ]   No

     The  Company  has not filed its Annual  Report on Form  10-KSB for the year
     ended December 31, 2002.

(3)  Is it anticipated that any significant change in results of operations from
     the corresponding  period for the last fiscal year will be reflected by the
     earnings  statements  to be  included  in the  subject  report  or  portion
     thereof?

                                               [  X  ] Yes        [   ]   No

     If so, attach an explanation of the anticipated  change,  both  narratively
     and quantitatively, and, if appropriate, state the reasons why a reasonable
     estimate of the results cannot be made.


The Company is unable to estimate whether there will be any significant change
in the results of operations from the quarter ended March 31, 2003 as compared
to the quarter ended March 31, 2002 due to the fact that the Company does not
have a full-time accounting staff and, as a result, has been unable to
accurately and completely compile the financial information required to be
included in the Form 10-QSB.

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                        INDEX DEVELOPMENT PARTNERS, INC.
                        --------------------------------
                  (Name of Registrant as Specified in Charter)

has caused this notification to be signed on its behalf by the undersigned
hereunto duly authorized.

Date:      May 16, 2003             By:   /s/ Jonathan L. Steinberg
       --------------------------      -----------------------------------------
                                       Jonathan L. Steinberg, Chairman and Chief
                                                 Executive Officer

INSTRUCTION: The form may be signed by an executive officer of the registrant or
by any other duly  authorized  representative.  The name and title of the person
signing  the form  shall  be typed or  printed  beneath  the  signature.  If the
statement is signed on behalf of the registrant by an authorized  representative
(other than an executive officer), evidence of the representative's authority to
sign on  behalf  of the  registrant  shall be filed  with  the  form.

                                   ATTENTION

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Intentional  misstatements  or omissions  of fact  constitute  Federal  Criminal
Violations (See 18 U.S.C. 1001).
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