Raiden Infotech, a Google INC. company, has leased 3.81 sq. ft. space in the Maharashtra Industrial Development Corporation (MIDC) in Navi Mumbai’s industrial area for 28 years from Amanthin Info Parks Pvt. Ltd.

Google has leased this space to set up a data center for expanding the cloud infrastructure to meet the increasing demand for data in the Indian industries across Finance, Entertainment, and Real Estate niches.

The sublease agreement

The sublease agreement was signed between Raiden Infotech, Amanthin Info Parks, and MIDC.

MIDC had leased this industrial estate to Amanthin Info Parks. Amanthin Info Parks is owned by Evryondr, a joint venture between the data centre firm Yondr Group and Everstone Group.

The lease agreement has been signed, agreeing to the annual rent escalation of 1.75%. The monthly rent amounts to 8.83 crores.

This 8-story rooftop building was leased in October 2022. Raiden Info Tech paid the stamp duty of 7.26 crores.

An uptick in data centers by big players

Last year around the same time, Google’s Raiden Info Tech had leased approximately 4.64 lakh sq ft in Noida from DC Development Noida Limited, an entity of Adani Enterprises, for 10 years. The rent for the property was Rs 10.90 crore per month. Google has also leased space in Adani Data Centre located in Sector 62, Noida, with a monthly salary of Rs 235 per sq ft for an area of 464 lakh sq.ft.

Other big companies like Amazon, Microsoft, and CTRLS data centers are all set to expand or set up their data center in India. Microsoft has acquired Fungible, a provider of composable infrastructure.

Data centers to expand in the coming years

According to a report, the Data Center investment in India will go up to $4.8 billion in the coming years, as it is poised to occupy 7.8 million sq.ft. Real estate space in the next 2 years. Various Government policies, such as incentivising data centers, have led more companies to invest in Indian land to establish large data centers in India.