Noida authority has appointed a 60,000 square meter institutional plot to Microsoft India (R$D) Pvt Ltd at the price of Rs 103.66 crore.
The deal says that the company will need to deposit 40% of the cost within a month in order to go through with the sale deed while the rest of the 60% will be paid in eight instalments in four years.
“The company will be given five years to complete the project. The investment by Microsoft in Noida will help NCR to develop as a software hub. It will also create jobs and encourage other companies to invest in the region,” the authority said.
The authority of Greater Noida, Yamuna and Noida has been introducing various schemes to allot industrial and institutional plots to companies to inspire private investment in the area.
So in total, 64 industrial plots, spread in 54 acres, were accessible for allotment in Greater Noida. A few companies have an interest in investing in data centres, the authority expects a complete investment of Rs 7130 cries and employment opportunity for 9000.