Microsoft India To Set Up Data Center In Pimpri, Buys 25-acre Land For Over Rs 300 Crore
October 23, 2022: The data center market in India in 2021 was valued at $4.35 billion and is projected to reach $10.09 billion by 2027.
It is planned that more than 45 data centers covering around 13 million square feet and 1015 MW of IT capacity will emerge by the end of 2025, according to Devi Shankar, president of data, logistics and industrial centers at Anarock Capital.
Pune – Aiming to set up a data center, the Indian business division of tech giant Microsoft has struck a deal with Finolex Industries to purchase a 25-acre plot of land in Pimpri.
The transaction worth Rs 328 crore is one of the highest profile property transactions in the region recently.
As part of the transaction, the software company paid more than Rs 16 crore in stamp duty, according to documents seen by property intelligence firm Propstack.
Microsoft, in documents to the Maharashtra Industrial Development Corporation (MIDC) in the process of transferring the lease, said a data center is being planned at the site.
“Microsoft is one of the biggest spenders in the data center market today, along with the likes of Amazon Web Services (AWS) and Google. AWS, Microsoft and Google together now account for more than 50 percent of the world’s largest data centers worldwide,” said Raja Seetharaman, co-founder of Propstack.
In 2021, the data center market in India was valued at $4.35 billion and is projected to reach $10.09 billion by 2027.
The need for data centers is directly proportional to an increase in data consumption and adoption of data centers. the cloud, Seetharaman was quoted by ToI as saying.
The “old” Pimpri-Chinchwad industrial corridor, especially along or near the old Mumbai highway, has seen many land-based industries selling or leasing a section of their land for commercial or residential real estate development in the last years.
Some of the major transactions in the recent past involved entities such as Greaves Cotton, Mahindra, among others.
For the Microsoft India data center deal, MIDC had given Finolex the go-ahead earlier in the year. Property watchers see this deal as a sign of the approaching data center “evolution” in India.
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