Amazon Data Services India has acquired nearly 60 acres of land, near Mumbai, from realty developer Kalpataru Group for more than Rs 1,870 crore—one of the largest outright land purchases this year. The deal was registered on October 21.
According to a report, the US-based online retail behemoth has paid a record stamp duty of Rs 130 crore—the most for a single deal. Kalpataru acquired about 70 acres in Thane’s Balkum locality via two separate deals in 2004 and 2010 for a total of around Rs 300 crore from Clariant Chemicals and its subsidiary Color Chem.
Kalpataru is developing a posh residential project, Paramount, on part of the remaining land. Amazon Data Services India is considering utilising this land parcel to develop a hyperscale data center. In the last few months, it is the third time that Amazon Data Services India has purchased or long-term-leased a large piece of land.
The subsidiary of Amazon is considering setting up a data centre on this land parcel as well and will be paying rent of more than Rs 921 crores over the total lease tenure, excluding the rent escalation. The pact mentions a clause to escalate the lease rental by 3 percent.
