Amazon India acquired land in Mumbai worth Rs 450 crore from Lodha Group for setting up data centres. check the details

Amazon India acquires 38.18 acres of land from real estate developer Lodha Group for over $100 $Developing a hyperscale data center at Pallava near Mumbai at a cost of Rs 450 crore, economic times Reported on Tuesday, December 3. Lodha is listed on the Indian stock market under the ticker Macrotech Developers.

Amazon Data Services India, the Indian arm of Amazon, will get an approved floor space index with a permitted development potential of nearly 4.16 million sq ft, the report said.

Macrotech Developers Ltd shares rose 0.56% $Tuesday’s trading session was at 1,296.80, compared to $The previous closing price was 1,289.60.

Amazon data services in India pay more than $On signing and registering the sale agreement, Macrotech Developers agreed to pay Rs 396 crore of the total amount. balance exceeds $According to the news portal, Rs 54 crore will be disbursed over a period of time after meeting certain conditions.

The company also paid stamp duty $Data analytics firm Propstack cited in the report said the deal took place on November 12 with a registration fee of Rs 270 million.

Amazon India land deal

According to reports, in 2023, Amazon Data Services India purchased more than 4 acres of land in the Powai suburb of Mumbai from construction giant Larsen and Toubro Ltd through a long-term lease of nearly 18 years.

The report also said that the company is building a data center on the land and will pay more than $562 crore during the lease period. This does not include rent increases.

Amazon India signed an agreement with L&T to lease an adjoining 5.5-acre plot for 21.5 years at a total lease fee of $921 crore, excluding rent hike of 3% per annum. The transaction increases the total rent for the entire 9.5-acre parcel of both parcels to nearly $1,500 crore over the entire lease period.

The company has also leased a commercial tower with a built-up area of ​​451,000 sq ft in Thane for setting up a data center on a long-term sub-lease of over 15 years till 2022. Shortly after development was completed, the company boasted more than $As per the report, Rs 1,870 crore was spent to develop another hyperscale data centre.

In response to queries from the newspaper, Amazon Web Services said: “We remain committed to India’s digital and AI transformation, evidenced by our announced multi-billion dollar plan to invest in India’s cloud infrastructure ($12.7 billion by 2030). ) can be seen.”

India is increasingly digital

As digitalization continues to grow in India, data centers are becoming increasingly important for concepts such as payments, gaming or upcoming needs such as virtual universes.

With investments flowing into the data center market, data centers in India are emerging as the most attractive growth opportunity for global investors and leading developers.

With the rapid development of campus scale in the world’s most mature cities, multiple new markets have been born simultaneously.

According to reports, in addition to Amazon, other major global companies such as Google and Microsoft have also begun to build hyperscale data centers in the country.