Google will pay Rs 235 sq ft per month as rental with 1% escalation at the end of every 12 months.
The upcoming facility at Sector 62 will generate employment for 1,350.
Google and Adani Enterprises did not respond to ET’s email query.
Noida is a fast-growing location for data centres in India and the Adani Group plans to establish one of the largest data centres in the country here.
In April, 2021, Adani Enterprises was allotted 39,146 sq metres in Sector 80 to develop a data centre where it intends to invest Rs 2,500 crore.
The Noida authority had adopted UP government’s data centre policy. According to the policy, any company investing over Rs 200 crore in data centres will be eligible for relaxation in stamp duty, electricity charges and building bylaws.
Investors will also be offered incentives on capital, interest rates and subsidies on land procurement.
The state government aims to attract Rs 20,000 crore of investment and establish three data centre parks.
Data Centre (DC) investments in India are expected to surpass USD 20 billion by 2025, according to a report by CBRE.
The growing digitalization, coupled with a strong government policy impetus, has led to a surge in demand for DCs in India. In addition, OTT, online gaming, increased smartphone usage, e-commerce, online schooling by EdTech platforms, location-agnostic work, along with advanced technologies including machine learning, 5G, blockchain, and artificial intelligence, has led to a multi-fold jump in data transmission and need for high spec servers.
According to the report, in H1 2022, the DC stock in India exceeded 9 million sq. ft. with a 600+ MW capacity in India. It is expected that the DC capacity will almost double by 2024, with more than 400 MW currently under construction across cities in India. Mumbai is expected to lead the supply addition, followed by Bangalore, Chennai, and Delhi-NCR.
Mumbai led in terms of pan-India DC stock, accounting for a share of about 48%, followed by Bangalore at about 18%, along with Chennai (9%), which is now gradually becoming one of the fastest growing DC markets in India. Together, these three cities accounted for nearly 75% of India’s DC footprint. In addition, Delhi-NCR, Pune, Hyderabad, and Kolkata accounted for the remaining 25% of the DC market in India.