AWS acquires 60 acres of land in Thane

By VARINDIA - 2022-10-28

AWS acquires 60 acres of land in Thane

Amazon Web Services (AWS) has acquired 60 acres of land in Thane district, near Mumbai, for over Rs 1,800 crore from Ananta Landmarks, an arm of Kalpataru. Located at Balkum Pada in the Majiwada area, the land parcel will be used for setting up a data centre facility.

 

A couple of months back, Amazon Data Services India had picked up a 5.5-acre land parcel in Mumbai’s Powai area from Larsen & Toubro on a long-term lease of more than two years.

 

Amazon Data Services had also taken on rent 4,51,037.54 square feet (sq. ft.) of office space in Thane, Mumbai, at a rent of Rs 74.91 crore per year in September this year. The lease is for a period of 29 years.

 

The monthly rent works out to be Rs 6.24 crore. The rent will increase by 3 percent every 12 months for the first 36 months, and 3.5 percent every 12 months for the last 144 months. The premises have been leased by Newfound Properties, a subsidiary of K Raheja Corp, to Amazon Data Services, in a ground-plus-7 (G+7) story building.

 

A recent report by CBRE has said that 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 as investors look for assets with stable income.


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