Noida Authority Allots 60,000 Sq m Plot To Microsoft India

To attract more software companies in the region, Noida Authority has allotted a 60,000 sq metre institutional plot in Sector 145 at a land premium of Rs 103.66 crore to Microsoft India (R&D) Pvt Ltd for use as an IT or ITeS facility.
BY Realty Plus
Published - Monday, 05 Apr, 2021

To attract more software companies in the region, Noida Authority has allotted a 60,000 sq metre institutional plot in Sector 145 at a land premium of Rs 103.66 crore to Microsoft India (R&D) Pvt Ltd for use as an IT or ITeS facility. “This will increase employment opportunities in the NCR and attract more software companies to invest in the region,” the Authority said. The land premium is Rs 103.66 crore of which 40% is to be paid within a month to execute a sale deed and the remaining 60% in eight six monthly installments within four years, it said. Plots A1 and A2 in Sector 145 spread across 60,000 sq m at a land premium of Rs 103.66 crore have been allocated to Microsoft India (R & D) Pvt Ltd for use for IT or ITeS. The entire project is to be completed within five years. In February, Ingka Centres, part of the Ingka Group that includes IKEA Retail and Ingka Investments, announced its plans to invest close to Rs 5,500 crore (over 600 million euros) for a shopping mall spread across a 48,000 square metre plot in Noida, Uttar Pradesh. The land allotment for the commercial plot located in Sector 51 was transferred by the Noida Authority to IKEA on February 19. The authority had received Rs 850 crore from IKEA. Earlier this year, the Greater Noida Industrial Development Authority allotted six acres in Techzone 4 to a Japanese firm, NTT India, to set up a data centre of 70 MW capacity. The registration department received close to Rs 100 crore by way of stamp duty from IKEA. This is expected to turn the area into an attractive data centre hub due to availability of infrastructure and help the business get decentralised from traditional Mumbai and Chennai strongholds. It is also expected to boost real estate markets in the region. NTT India would be the second data centre project in Greater Noida after Mumbai-based Hiranandani Group was given 20 acres in Knowledge Park 5 to set up a 200 MW data centre. The first of the six towers of the Hiranandani Group is expected to be ready next year.