Noida Authority has recently allocated a 60,000 sq meter institutional plot in Sector 145 to Microsoft India (R&D) Pvt Ltd for the development of an IT or ITeS facility, in a move aimed at attracting more software companies to the region. The land premium for this allocation amounts to Rs 103.66 crore.
In a statement, the Authority highlighted that this initiative is expected to boost employment opportunities in the National Capital Region (NCR) and entice additional software companies to invest in the area. The payment terms require 40% of the land premium to be paid within a month for the execution of a sale deed, with the remaining 60% to be settled in eight six-monthly installments over a period of four years.
Microsoft India (R&D) Pvt Ltd has been allocated Plots A1 and A2 in Sector 145, both spanning 60,000 sq m, with a land premium of Rs 103.66 crore, for the specific purpose of utilizing the space for IT or ITeS activities. The stipulated timeline for the completion of the entire project is within five years.
