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Google takes 4.64 lakh sq ft space on lease at Adani Data Centre in Noida for 10 years

Google subsidiary Raiden Infotech has leased 4.64 lakh square feet from Adani Enterprise at its Noida Data Center for a per month rate of 11 crores according to documents accessed by CRE Matrix.

According to documents accessed by CRE Matrix, Google subsidiary Raiden Infotech has leased 4.64 lakh square feet from Adani Enterprise at its Noida Data Centre for a per month rate of Rs 11.21 crore.

According to the Documents Obtained By the data analytics company, D & C Development Noida Ltd, a division of Adani Enterprises Ltd, has a 10-year lease on 4,64,460 square feet of space at the Adani data center in Sector-62, Noida.

The lease paperwork was signed last month and the monthly rent is 235 per square foot. The Initial Annual Rent is Rs.130.89 crore, and there will be an Annual Rate Increase of 1%.

Registration of the document took place on September 9, 2022.

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The Adani Group has not yet commented on the matter. No one answered when trying to reach Raiden Infotech India Private Limited.

The Adani Group has not yet commented on the matter. No one answered when trying to reach Raiden Infotech India Private Limited.

Also, On September 2, 2022, A Primary Lease Agreement for a 23-year term was signed between Adani Enterprises and DC Development Noida.

Besides, in February 2021, To build and run data centers across India, Adani Enterprises and Renowned Global Data Center operator EdgeConneX formed an equal Joint Venture.

A network of hyper-scale data centers would be built in India, starting in Chennai, Noida, Navi Mumbai, Vizag, and Hyderabad, according to the JV’s announcement.

Adani Enterprises received a 34,275 square meter plot of land in Sector 62 from the Noida Authority in July 2021 with an estimated 2,400 crore in investment to construct a data center.

Adani Enterprises sold its entire stake in DC Development Noida Pvt Ltd to AdaniConnex Pvt Ltd, a Joint Venture between Adani Enterprises and Edge ConneX, in November of last year.

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In a report titled “Data Centres in India: Powering Up Real Estate in a Data-High Era,” published last month, real estate consultant CBRE claimed that growing digitalization and policy impetus had led to a boom in demand for data centers in India.

In a report titled “Data Centres in India: Powering Up Real Estate in a Data-High Era,” published last month, real estate consultant CBRE claimed that growing digitalization and policy impetus had led to a boom in demand for data centers in India.

The COVID epidemic, it claimed, has sped up the adoption of technology and greatly increased data usage.

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Furthermore, CBRE noted that advanced technologies like machine learning, 5G, blockchain, and artificial intelligence, along with OTT, online gaming, increased smartphone usage, e-commerce, online learning by edutech platforms, and location-agnostic work, have caused a multi-fold increase in data transmission and a need for high-spec servers.

Furthermore, CBRE noted that advanced technologies like machine learning, 5G, blockchain, and artificial intelligence, along with OTT, online gaming, increased smartphone usage, e-commerce, online learning by edutech platforms, and location-agnostic work, have caused a multi-fold increase in data transmission and a need for high-spec servers.

According to CBRE, the market for data centers in India has witnessed investments totaling USD 14 billion over the past five years. By 2025, the total funding may exceed USD 20 billion as investors look for properties with a steady income.

In the next two and a half years, there will be a demand for 7.8 million square feet of real estate space due to rising data usage in the financial, entertainment, and retail sectors and increased commitment from cloud service providers. According to JLL’s report, Data Centre Update¬†H1 2022, this will require an investment of $4.6 billion. The industry’s potential is anticipated to increase from its current 637 MW level to 1,318 MW over the next two and a half years.

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