1. Home
  2. Infrastructure Urban
  3. ECONOMY & POLICY
  4. Amazon Acquires Rs 4.5 Billion Land for Mumbai Data Centre
Amazon Acquires Rs 4.5 Billion Land for Mumbai Data Centre
ECONOMY & POLICY

Amazon Acquires Rs 4.5 Billion Land for Mumbai Data Centre

09 Dec 2024 2 Min Read CW Team
Amazon Data Services India, a subsidiary of Amazon India, has acquired 38.18 acres of land from Macrotech Developers, also known as Lodha Group, for over Rs 4.5 billion. The land, located in Palava near Mumbai, will be used to establish a hyperscale data centre.

Key highlights:

  • Payment details: Amazon has paid Rs 3.96 billion upfront, with the remaining Rs 540 million to be paid after meeting certain conditions. The company also paid a Rs 270 million stamp duty for the registration, which was completed on November 12, 2024.
  • Development scope: The land comes with a sanctioned floor space index allowing a development potential of approximately 4.16 million sq ft.

    • Impact on Macrotech developers:
    Shares of Macrotech Developers rose by 0.56% following the announcement, closing at Rs 1,296.80 on December 3.

    Previous acquisitions:

  • In 2023, Amazon leased a 4-acre parcel in Powai from Larsen & Toubro for 18 years, incurring rental costs of Rs 5.62 billion over the lease term.
  • It also leased an adjacent 5.5-acre parcel for Rs 9.21 billion for 21.5 years, bringing the total rent across 9.5 acres to nearly Rs 15 billion.
  • In Thane, Amazon acquired 54 acres of land for Rs 18.7 billion to develop another hyperscale data centre.

    • Amazon Web Services reaffirmed its commitment to India's digital and AI transformation, highlighting its planned $12.7 billion investment in cloud infrastructure by 2030. With India's increasing digital adoption, data centres are crucial for applications like payments, gaming, and emerging technologies such as the metaverse. Global players like Google and Microsoft are also investing in hyperscale data centres in India, underscoring the country's prominence in the data centre market.

    This acquisition reflects Amazon's strategic focus on expanding its cloud infrastructure to meet India's growing digital demands.

    (Mint)

    Amazon Data Services India, a subsidiary of Amazon India, has acquired 38.18 acres of land from Macrotech Developers, also known as Lodha Group, for over Rs 4.5 billion. The land, located in Palava near Mumbai, will be used to establish a hyperscale data centre. Key highlights: Payment details: Amazon has paid Rs 3.96 billion upfront, with the remaining Rs 540 million to be paid after meeting certain conditions. The company also paid a Rs 270 million stamp duty for the registration, which was completed on November 12, 2024. Development scope: The land comes with a sanctioned floor space index allowing a development potential of approximately 4.16 million sq ft. Impact on Macrotech developers: Shares of Macrotech Developers rose by 0.56% following the announcement, closing at Rs 1,296.80 on December 3. Previous acquisitions: In 2023, Amazon leased a 4-acre parcel in Powai from Larsen & Toubro for 18 years, incurring rental costs of Rs 5.62 billion over the lease term. It also leased an adjacent 5.5-acre parcel for Rs 9.21 billion for 21.5 years, bringing the total rent across 9.5 acres to nearly Rs 15 billion. In Thane, Amazon acquired 54 acres of land for Rs 18.7 billion to develop another hyperscale data centre. Amazon Web Services reaffirmed its commitment to India's digital and AI transformation, highlighting its planned $12.7 billion investment in cloud infrastructure by 2030. With India's increasing digital adoption, data centres are crucial for applications like payments, gaming, and emerging technologies such as the metaverse. Global players like Google and Microsoft are also investing in hyperscale data centres in India, underscoring the country's prominence in the data centre market. This acquisition reflects Amazon's strategic focus on expanding its cloud infrastructure to meet India's growing digital demands. (Mint)

    Next Story
    Infrastructure Energy
    31 Jan 2025

    Digital Economy, Renewable Energy to Boost Job Creation: Economic Survey

    The Economic Survey 2024-25, presented by Union Finance Minister Nirmala Sitharaman, indicates substantial improvement in India’s labour market, driven by strong post-pandemic recovery and formalisation of the workforce. Key findings include a significant drop in the unemployment rate from 6 per cent in 2017-18 to 3.2 per cent in 2023-24. Additionally, there has been notable growth in female labour force participation, which increased from 23.3 per cent in 2017-18 to 41.7 per cent in 2023-24.Other highlights include:Over 30.51 crore unorganised workers registered on the eShram portal, suppor..

    Read More
    Next Story
    Real Estate
    31 Jan 2025

    Aditya Birla Housing Finance Secures Rs 8.3 Billion from IFC

    Aditya Birla Housing Finance Ltd. (ABHFL), a subsidiary of Aditya Birla Capital, has raised Rs 8.3 billion through non-convertible debentures (NCDs) from the International Finance Corporation (IFC). The company stated that the funds will be used to provide housing loans to low- and middle-income groups (LIG and MIG), with a special focus on promoting homeownership among women. Additionally, a portion of the investment will support MSMEs, particularly women-led enterprises, to drive economic growth. The initiative aims to strengthen financial inclusion and uplift underserved communities in the ..

    Read More
    Next Story
    Infrastructure Energy
    31 Jan 2025

    Bihar to Bid Out 2,400 MW Power Plant by March

    The Bihar government plans to auction the proposed 2,400 MW coal-based power plant at Pirpainti by March 2025. Part of the state's FY25 budget initiatives, the project is valued at Rs 214 billion, covering multiple power sector developments. Coal for the plant is expected to come from Eastern Coalfields, with fuel and location already determined to streamline the bidding process. Discussions are underway to finalise coal supply under the SHAKTI scheme, with a resolution expected by February. The Central government has also pledged support for fast-tracking environmental clearances to facilit..

    Read More

    Opinion Poll

    Question : Which technological advancement do you believe will most transform the real estate industry in the coming years?

    Latest updates

    Digital Economy, Renewable Energy to Boost Job Creation: Economic Survey
    POWER & RENEWABLE ENERGY
    31 Jan 2025

    Digital Economy, Renewable Energy to Boost Job Creation: Economic Survey

    Aditya Birla Housing Finance Secures Rs 8.3 Billion from IFC
    Real Estate
    31 Jan 2025

    Aditya Birla Housing Finance Secures Rs 8.3 Billion from IFC

    Bihar to Bid Out 2,400 MW Power Plant by March
    COAL & MINING
    31 Jan 2025

    Bihar to Bid Out 2,400 MW Power Plant by March

    Afcons Infra Shares Rise After Rs 12.83 Billion Gujarat Contract Win
    ECONOMY & POLICY
    31 Jan 2025

    Afcons Infra Shares Rise After Rs 12.83 Billion Gujarat Contract Win

    We are shaping the next era of vertical mobility
    ECONOMY & POLICY
    31 Jan 2025

    We are shaping the next era of vertical mobility

    Brookfield REIT Q3 NOI Rises 11% to Rs 5.03 Bn
    Real Estate
    31 Jan 2025

    Brookfield REIT Q3 NOI Rises 11% to Rs 5.03 Bn

    Gurugram’s Key Corridor Set for Expansion
    RAILWAYS & METRO RAIL
    31 Jan 2025

    Gurugram’s Key Corridor Set for Expansion

    Mumbai-Ahmedabad Bullet Train: Major Progress in Maharashtra
    RAILWAYS & METRO RAIL
    31 Jan 2025

    Mumbai-Ahmedabad Bullet Train: Major Progress in Maharashtra

    Hi There!

    "Now get regular updates from CW Magazine on WhatsApp!

    Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

    Click the link below to join"

    +91 81086 03000