Google leases 4.6 lakh square feet for Rs130.98 crore in Adani Data Centre

12 Oct 2022 , 07:56 AM

According to records obtained by real estate data analytics company CRE Matrix, tech giant Google has leased 464,000 square feet at the Adani Data Centre in Noida for 10 years with a beginning annual rate of Rs130.98 crore.

The agreement has been inked between Raiden Infotech Pvt. Ltd., a subsidiary of Google Inc., and Dc Development Noida Private Limited, a division of Adani Enterprises Ltd.

Google would pay a monthly rate of Rs235 per square foot with a 1% annual increase.

Adani Enterprises purchased 34,275 square metres of property in Noida for Rs103.41 crore in July 2021 with the intention of building a data centre with an estimated investment of Rs2,400 crore.

The proposed Sector 62 facility will create jobs for 1,350 people.

The Adani Group intends to build one of the largest data centres in the nation in Noida, which is one of India’s rapidly expanding locations for data centres.

Adani Enterprises was given 39,146 square metres in Sector 80 in April 2021 to build a data centre on which it plans to spend Rs2,500 crore.

The data centre policy of the UP government was implemented by the Noida authority. Any corporation investing more than Rs200 crore in data centres will be entitled to a stamp duty, power fee, and building bylaws exemption, according to the policy.

Additionally, incentives for money, interest rates, and subsidies for buying land will be provided to investors.

The state government wants to create three data centre parks and draw investments totalling Rs20,000 crore.

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