Two major data centre projects in Greater Noida to help boost real estate markets in the region: Experts
USP’s/ High’s of this:
Boost real estate markets in the region
business get decentralised from traditional Mumbai and Chennai strongholds. Other than Mumbai and Chennai, Noida and Greater Noida in NCR are among the key data centre hubs in the country.
The first of the six towers of the Hiranandani Group is expected to be ready next year.
The two companies are expected to invest close to Rs 8,000 crore and generate employment for around 1,500 people.
Two more data centres may come up in the region, officials said. With recent announcements by Yotta to set up 20- acre data centres in Noida.
As per ANAROCK Research, Noida and Greater Noida are likely to see new data centre supply of approximately 2.3 million sq. ft. area with nearly 260 MW of IT power capacity over the next three years with total investments to the tune of nearly $ 1.3 billion.
Given shifts in the economy, one would continue to see data consumption increase manifold for the foreseeable future, real estate experts said.
The announcement by Global Tech Player NTT to set up data centre in India strengthens India’s play in the data centre business.
Another report had said that an additional 9.3 million sq ft of real estate space is expected to be developed by 2025 for the rapidly growing data centre industry at an investment of about ₹7,700 crore.
The data centre industry is expected to add 703 MW capacity by the end of 2025, translating into an opportunity of 9.3 million sq ft of real estate development, a report by JLL had said.
One major factor encouraging the establishment of a slew of data centres in Greater Noida and Noida is the sound infrastructure initiatives taken up in this belt in Uttar Pradesh, said Devi Shankar, President – Industrial & Logistics, Data Centres, ANAROCK Capital.
https://www.moneycontrol.com/news/business/real-estate/two-major-data-centre-projects-in-greater-noida-to-help-boost-real-estate-markets-in-the-region-experts-6394801.html
https://www.aajtak.in/india/uttar-pradesh/story/ups-second-data-centre-in-greater-noida-yotta-infrastructure-1197168-2021-01-24