The Noida Authority has awarded Microsoft India (R&D) Pvt ltd an institutional property of 60,000 square meters with a premium of Rs 103.66 crore.
According to the agreement, the company must deposit 40% of the amount within one month to complete the deed of sale, while the remaining 60% must be paid in eight installments within four years.
“The company has five years to complete the project. Microsoft’s investment in Noida will help NCR evolve as a software center. It will also create jobs and encourage other companies to invest in the region, ”the agency said in a statement.
The Greater Noida, Yamuna and Noida authorities have drawn up plans to provide companies with industrial and institutional land to encourage private investment in the region.
A total of 64 commercial zones covering an area of 54 hectares were available for allocation in the Noida metropolitan region. With some companies interested in investing in data centers, the agency is planning a total investment of Rs 7,130 cr and job opportunities of Rs 9,000.