Google leases 4.6 lakh sq ft land at Adani Data centre
By MYBRANDBOOK
DC Development Noida Limited, an entity of Adani Enterprises, has subleased around 4.64 lakh sq ft of space to Raiden Infotech India Private Limited, a Google Inc company, in Noida for 10 years at a monthly rent starting at Rs 10.90 crore.
The annual rent is Rs 130.89 crore. According to the agreement to sublease, the document showed that there will be an escalation of 1 percent at the end of every 12 months. The primary lease deal was signed between Adani Enterprises and DC Development Noida in early last month, for a period of 23 years.
In 2021, Noida Authority had allotted 34,275 square metres of land at Sector 62 to Adani Enterprises for setting up a data centre with an investment of around Rs 2,400 crore. Adani Enterprises Ltd then divested its 100 percent stake in DC Development Noida Pvt Ltd to AdaniConnex Pvt Ltd, which is an equal joint venture between Adani Enterprises and EdgeConneX.
Last month, real estate consultant CBRE released a report, stating that there has been a surge in demand for data centres in India on growing digitalisation and policy impetus. The COVID pandemic has accelerated the adoption of technology and data usage has increased significantly. India’s data centre market has witnessed an investment of $14 billion in the last five years, and the cumulative funding could cross $20 billion by 2025.
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