by THO
Amazon Data Services Pvt Ltd has bought a 38-acre land parcel in Ambernath near Mumbai from Macrotech Developers, also known as Lodha Group, for ₹450 crore, according to the property registration documents accessed by Proptstack
The land parcel is located in Asode and Burdul villages in Ambernath near Mumbai, according to Propstack.
The transaction was registered on November 12, 2024 for which a stamp duty of ₹27 crore was paid, according to the documents.
The land parcel is located close to where Lodha Group has a project named Palava City near Mumbai.
Emails have been sent to Amazon and Macrotech Developers. The story will be updated in case a response is received.
At an investors’ call earlier this year, Abhishek Lodha had said that Palava City, spread around 4,500 acres, may scale up and generate a revenue of over ₹8,000 crore per year in the next couple of years owing to development of residential and commercial segments, warehousing and industrial spaces as well as a life sciences hub.
Also Read: Properties worth ₹50 lakh: Here’s what you can buy in Mumbai and MMR
Related transactions
In August 2023, Amazon Data Services Pvt Ltd had leased 1.74 lakh sq ft of freehold industrial land from L&T in Powai in Mumbai. The rent had worked out to be ₹2.59 crore per month, lease documents accessed by CRE Matrix, a real estate consultant, showed.
In a similar deal in June 2022, Amazon Data Services had leased a 5.5-acre land parcel from L&T in Powai adjacent to the plot for which the lease was signed on August 3, according to the registered documents.
In July 2023, an arm of Intel India leased 11,536 sq ft of area in a data centre building in Bengaluru for three years from Hyderabad-headquartered CtrlS Data Centers Ltd at a starting monthly rent of ₹47.39 lakh.
In November 2024, US-headquartered data centre firm Equinix India Pvt Ltd had purchased 5,597 sq m (1.38 acres) of land in Mumbai’s Chandivali area for ₹155 crore, according to the property registration documents accessed by CRE Matrix. The land parcel has been purchased along with the building with a built up area of 5,386 sq m, according to the documents.
Is Mumbai emerging as a data centre hub?
According to a report by Savills India, the total data centre stock across the country grew by 21% in the first half of the year. Mumbai led the way with a substantial 54.9% share of the total capacity, followed by Chennai (12.3%), Bengaluru (8.2%) and Pune (7.2%).
As per JLL, the data centre (DC) industry in India is set to witness remarkable growth, with projections of adding 791 MW capacity by 2026. This expansion will drive a demand for 10 million sq. ft. of real estate space, attracting investments worth $5.7 billion. It noted that Mumbai is expected to account for 4.41 mn sq ft of data centre space followed by Chennai at 2.89 mn sq ft and NCR at 0.66 mn sq ft.
In September 2024, Mindspace Business Parks REIT had announced that it has entered into a strategic partnership with Princeton Digital Group, a global leader in data center operations, to develop PDG’s flagship and largest data center campus in India, at Mindspace Airoli West in Navi Mumbai near Mumbai.
Over 100 land deals spanning approximately 1,700 acres were closed across six major cities in India between January-September 2024 , according to a report released by property consultancy CBRE on October 22.
Data centers emerged as a significant asset class in the nine-month period, accounting for a 6% share in overall deal volume spread over more than 140 acres, the report noted.
