Google Signs 28-year Deal for Massive Data Center in Navi Mumbai
January 20, 2023: Google has agreed to acquire a 3.81 lakh sq ft data center in Navi Mumbai on a long-term lease of 28 years as it expands its cloud infrastructure in India to meet rising demand in one of its key growth markets.
Alphabet’s subsidiary, through its affiliate Raiden Infotech India, will pay $140 million for the first 10 years of the lease, or Rs. 1,144 crore, including a 1.75% rent increase every 12 months.
The move follows Google’s recent acquisition of a 4.64-lakh sq ft facility at the Adani data center in Noida on a 10-year lease, a report in the Economic Times said.
The proposed data center in Navi Mumbai is expected to be developed in the next 24 months, when rentals will also commence. The building will have 8 floors including basement and roof level.
Raiden Infotech India has charged Rs. Paid stamp duty of over 7.26 crores.
The agreement was reached through a tripartite agreement between Raiden Infotech India, Amanthin Info Parks (sub-lessor) and Maharashtra Industrial Development Corporation (MIDC) which leased the land to Amanthin Info Parks.
Amanthin Info Parks is owned by Eachondr, a joint venture between US-based Yondr Group and Singapore-based Everstone Group.
According to the agreement, Google has the option to expand the feature by the same size; The tech giant also has the right of first offer for any additional space requirements.
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