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

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DC Development Noida Limited, an entity of Adani Enterprises, has subleased around 4.64 lakh sq ft of space to Raiden Infotech India Private Limited, a Google Inc company, in Noida, for 10 years with a starting monthly rent of Rs 10.90 crore, showed documents shared by CRE Matrix, a real estate data analytics firm.

Google has leased space in Adani Data Centre located in Sector 62, Noida.

The starting monthly rent is Rs 235 per sq ft for an area of 4,64 lakh sq ft. The annual rent is Rs 130.89 crore.  There will be an escalation of 1 percent at the end of every 12 months, according to the agreement to sub-lease, the document showed.

The document was registered on September 9, 2022.

There was no comment from Adani Group. Raiden Infotech India Private Limited could not be contacted.

The primary lease deal was signed between Adani Enterprises and DC Development Noida on September 2, 2022,  for a period of 23 years.

Increasing data usage in the financial, entertainment and retail domain and higher commitment by cloud service providers will drive Indian Data Centre (DC) industry growth, leading to demand for 7.8 million sq. ft real estate space in the next two-and-a-half years. This will entail an investment of $4.6 billion, according to JLL’s report, Data Centre Update: H1 2022. The industry is expected to double in the next two-and-a-half years to 1,318 MW from the existing 637 MW capacity.