Noida allots 60k-sqm plot to Microsoft in sector-145

Noida: The Noida authority on Thursday allotted a plot spanning over 60,000 square metre to Microsoft India (R&D) private limited in sector-145 at a premium of ₹103

Noida: The Noida authority on Thursday allotted a plot spanning over 60,000 square metre to Microsoft India (R&D) private limited in sector-145 at a premium of ₹103.66 crore. The investment by Microsoft will create employment opportunities for 3,000 people in Nolida, said officials aware of the development.

HT Image

Officials from the 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.

Maheshwari said the company will soon share a detailed project report. “They have informed that they will invest ₹3,000 crore in the project which will provide job opportunities to 3,000 people. We will soon hold a meeting and share more details,” she said.

Officials said the investment will make Noida a software hub and also encourage other private players to invest in the region. Maheshwari said some other private companies and academic institutions have also put in requests for land allotment. Officials have not shared any information regarding date of construction project and estimated date of completion.

A response from Microsoft India is awaited on this development.

Meanwhile, the Noida authority has also allotted 11,683 square metres-land to Shiv Shiksha Samiti for ₹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.