Noida authority allows 60,000 sq meter land to Microsoft

                    Greater Noida, Yamuna, and Noida authorities have been coming up with plans to allot industrial and institutional plots to companies to support private investment in the area.

                                         Noida authority has given a 60,000 square meter institutional plot to Microsoft India (R&D) Pvt Ltd at the premium of Rs 103.66 crore.

          As per the agreement, the company will have to put 40% of the amount within a month to complete the sale deed while the remaining 60% want to be paid in eight installments in four years.

                              “The company will be given five years to develop the project. The investment by Microsoft in Noida will help NCR to grow as a software hub. It will also create jobs and help other companies to invest in the region,” the authority said in a comment.

                     Greater Noida, Yamuna, and Noida authorities have been coming up with schemes to give industrial and institutional plots to companies to encourage private investment in the region.

                             In total, approx 65 industrial plots, covered in 55 acres were available for allotment in Greater Noida. With some companies are attracted to invest in the data center, the authority assumes a total investment lump sum of Rs 7150 crore and an employment opportunity for 10000.