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Microsoft India (R&D) has purchased 60,000 square metre land costing Rs 104 crore at Noida to set up a world class technology hub. This investment will attract more software companies to Noida and the Microsoft facility will be used as an information technology (IT) and information technology enabled service (ITeS) facility.
Official sources said the investment by Microsoft would increase employment opportunities in the National Capital Region (NCR) and attract more software companies to invest in the region.
The land premium is Rs 104 crore of which 40 per cent is to be paid within a month to execute a sale deed and the remaining 60 per cent in eight six monthly installments within four years, they said.
The entire project is to be completed within five years.
The Uttar Pradesh government, in July last year, had announced to roll out the red carpet for software giant Microsoft to set up a world-class technology hub in Noida. The agreement with the Microsoft India was concluded in Lucknow in July 2020.
In the next three-four years, the strength of Microsoft campus would reach its maximum potential of 4,000, making it the second-largest tech hub of Microsoft in India. The company already has two hubs in Hyderabad and Bengaluru with strength of 5,000 and 2,000, respectively.
With Microsoft coming into the fold, Noida and Greater Noida will become a major destination for electronics and IT in the country, as TCS is also putting up a campus in the area. Tech giant Wipro already has a campus there.
The UP government has also announced to set up an electronic city near the upcoming Jewar international airport along the Yamuna Expressway that connects Greater Noida with Agra.
In February, Ingka Centres, part of the Ingka Group that includes IKEA Retail and Ingka Investments, announced its plans to invest close to Rs 5,500 crore for a shopping mall spread over a 48,000 square metre plot in Noida. The Noida Authority has already allotted land for the project and received Rs 850 crore from IKEA.
Earlier this year, the Greater Noida Industrial Development Authority allotted six acres in Techzone 4 to a Japanese firm, NTT India, to set up a data centre of 70 MW capacity. The Stamps and Registration Department received close to Rs 100 crore by way of stamp duty from IKEA.
This is expected to turn the area into an attractive data centre hub due to availability of infrastructure and help the business get decentralised from traditional Mumbai and Chennai strongholds. It is also expected to boost real estate markets in the region.
The NTT India would be the second data centre project in Greater Noida after Mumbai-based Hiranandani Group was given 20 acres in Knowledge Park 5 to set up a 200 MW data centre. The first of the six towers of the Hiranandani Group is expected to be ready next year.
www.dailypioneer.com
Official sources said the investment by Microsoft would increase employment opportunities in the National Capital Region (NCR) and attract more software companies to invest in the region.
The land premium is Rs 104 crore of which 40 per cent is to be paid within a month to execute a sale deed and the remaining 60 per cent in eight six monthly installments within four years, they said.
The entire project is to be completed within five years.
The Uttar Pradesh government, in July last year, had announced to roll out the red carpet for software giant Microsoft to set up a world-class technology hub in Noida. The agreement with the Microsoft India was concluded in Lucknow in July 2020.
In the next three-four years, the strength of Microsoft campus would reach its maximum potential of 4,000, making it the second-largest tech hub of Microsoft in India. The company already has two hubs in Hyderabad and Bengaluru with strength of 5,000 and 2,000, respectively.
With Microsoft coming into the fold, Noida and Greater Noida will become a major destination for electronics and IT in the country, as TCS is also putting up a campus in the area. Tech giant Wipro already has a campus there.
The UP government has also announced to set up an electronic city near the upcoming Jewar international airport along the Yamuna Expressway that connects Greater Noida with Agra.
In February, Ingka Centres, part of the Ingka Group that includes IKEA Retail and Ingka Investments, announced its plans to invest close to Rs 5,500 crore for a shopping mall spread over a 48,000 square metre plot in Noida. The Noida Authority has already allotted land for the project and received Rs 850 crore from IKEA.
Earlier this year, the Greater Noida Industrial Development Authority allotted six acres in Techzone 4 to a Japanese firm, NTT India, to set up a data centre of 70 MW capacity. The Stamps and Registration Department received close to Rs 100 crore by way of stamp duty from IKEA.
This is expected to turn the area into an attractive data centre hub due to availability of infrastructure and help the business get decentralised from traditional Mumbai and Chennai strongholds. It is also expected to boost real estate markets in the region.
The NTT India would be the second data centre project in Greater Noida after Mumbai-based Hiranandani Group was given 20 acres in Knowledge Park 5 to set up a 200 MW data centre. The first of the six towers of the Hiranandani Group is expected to be ready next year.
Microsoft to set up a world class tech hub in Noida
Microsoft India (R&D) has purchased 60,000 square metre land costing Rs 104 crore at Noida to set up a world class technology hub. This investment will attract more software companies to Noida and the Microsoft facility will be used as an information technology (IT) and information technology
www.dailypioneer.com
