Microsoft India (R&D) has made a purchase of 60,000 square metre land worth Rs 104 crore at Noida to build a world class technology hub. This investment on the technology hub will pull more software companies to Noida and the Microsoft facility will be leveraged as an information technology (IT) and information technology enabled service (ITeS) facility.

As per official sources, the investment by Microsoft would increase employment opportunities in the National Capital Region (NCR) and welcome more software companies to invest in the region.

Of the land premium that is Rs 104 crore,  40 per cent is to be paid within a month to execute a sale deed and the remaining 60 per cent in eight to six monthly instalments within four years.

The completion timeline for the entire project is five years.

In July last year, the Uttar Pradesh government, had announced to roll out the red carpet for software giant Microsoft to set up a world-class technology hub in Noida. On July 2020, the agreement with the Microsoft India was concluded in Lucknow.

Within the next three-four years, the strength of Microsoft campus would reach its maximum potential of 4,000, thus making it the second-largest tech hub of Microsoft in India. The company already operates two hubs in Hyderabad and Bengaluru with strength of 5,000 and 2,000, respectively.

Now that Microsoft has come into the fold, Noida and Greater Noida will become a major destination for electronics and IT in the country, as TCS is also putting up a campus in the area. Meanwhile, Wipro already has a campus there. 

The UP government has also made announcements pertaining to setting up an electronic city near the upcoming Jewar international airport along the Yamuna Expressway that connects Greater Noida with Agra.

In February, Ingka Group’s Ingka Centres, that includes IKEA Retail and Ingka Investments, pronounced its plans to invest close to Rs 5,500 crore for a shopping mall spread over a 48,000 square metre plot in Noida. The Noida Authority has already prearranged land for the project and received Rs 850 crore from IKEA.

Speculations are that these investments will turn the area into an attractive data centre hub due to availability of infrastructure and help the business get decentralised from traditional Mumbai and Chennai strongholds. At the same time, it is also expected to boost real estate markets in the region.

After Mumbai-based Hiranandani Group was given 20 acres in Knowledge Park 5 to set up a 200 MW data centre, the NTT India would be the second data centre project in Greater Noida.