Equinix India Acquires 1.38-Acre Land in Chandivali for Data Centre Development | Representational Image
In a major real estate deal, Equinix India Pvt Ltd, the digital infrastructure company, has purchased a land parcel of 1.38 acre at Chandivali for Rs 155 crore. The company purchased the land from Overseas Packing Industries Pvt Ltd and Warden Hyforce Pvt Ltd, according to documents accessed by CRE Matrix, a real estate data analytics firm.
Equinix paid stamp duty of Rs 10.56 crore for the deal registered on November 21, 2024. The land parcel is likely to be used to set up a data centre.
Equinix is a digital infrastructure company that interconnects industry-leading org.zations such as finance, manufacturing, retail, transportation, government, healthcare and education across a digital-first world. Business leaders harness company’s trusted global platform to bring together and interconnect the foundational infrastructure that powers their success—sustainably and securely.
According to JLL, India’s Data Centre (DC) industry is all set for exponential growth, driven primarily by artificial intelligence (AI) and the nationwide rollout of 5G technology. The DC industry is expected to add a staggering 604 MW capacity in the next two and a half years (H2 2024-2026). The growth is a testament to India’s emergence as a global hub for AI innovation and data centre development.
“India is rapidly establishing itself as a global centre for AI innovation and data centre growth. Hyperscalers are increasingly pursuing self-build projects in major data centre hubs, while operators are planning new campuses powered by 400 kVA lines to support AI clusters.
Navi Mumbai, a satellite city, is emerging as a key data centre location, with potential demand expected to reach 800 MW in next few years. The push for AI-ready infrastructure, combined with the transformative influence of 5G, is revolutionizing India’s digital ecosystem and positioning the country as a leader in technological advancements,” JLL said.
In the first half of 2024 (January June), the DC industry already reached a capacity of 917 MW with an impressive 873 MW occupancy, indicating extremely tight market conditions. Over the past four and half years (2019-H1 2024), the sector has expanded 2.5 times, growing at a remarkable 24% CAGR.
The growth is expected to be fuelled further by significant government initiatives, including the approval of a USD 1.24 billion investment in AI infrastructure. Additionally, 5G network coverage is estimated to have reached over 90% of India’s population by the end of 2023.
