Microsoft India allotted a 60k-sqm plot in sector-145 Noida
The Noida authority has allotted a plot spanning over 60 K square metre to Microsoft India (R&D) private limited in sector-145 at a premium of Rs. 103.66 crore.
The investment by Microsoft will create employment opportunities for 3,000 people in Noida, according to a Hindustan Times report.
Microsoft’s Noida campus will be the company’s third campus after Hyderabad and Bengaluru facilities, which have a capacity of 5,000 and 2,000 professionals respectively.
Accring to reports, Noida authority said plots A-01 and A-02 have been allotted to the company under IT/ITES category. “As per the agreement, the company will have to deposit 40% of the amount to furnish the sale deed within a month. The rest of the amount shall be paid in eight half yearly instalments.
The allotment letter has been issued to the company,” said Ritu Maheshwari, CEO of Noida authority.
She said that Microsoft India (R&D) will soon share a detailed project report and the company will invest Rs.3,000 crore in the project which will provide job opportunities to 3,000 people.
The investment will make Noida a software hub and also encourage other private players to invest in the region. Ritu Maheshwari said some other private companies and academic institutions have also put in requests for land allotment.
Notably, Noida authority has also allotted 11,683 square metres-land to Shiv Shiksha Samiti for Rs. 24.6 crore for development of a higher secondary school in sector-145.
The Noida authority, the Greater Noida authority, and the Yamuna authority have been coming up with schemes to allot industrial and institutional plots to companies to encourage private investment in the region.