Equinix India Pvt Ltd, a US-based data center company, paid ₹155 crore for 5,597 sq m (1.38 acres) of land in the Chandivali neighborhood of Mumbai, according to property registration records accessed by CRE Matrix. According to the records, a building with a total built-up area of 5,386 square meters was purchased along with the land parcel.
The property is being sold by Overseas Packing Industries Pvt Ltd and Warden Hyforce Pvt Ltd. The transaction was registered on November 21, 2024, and ₹10.56 crore in stamp duty was paid on the purchase.
In June 2022, Equinix India revealed plans to invest $86 million for the construction of a new data center in Mumbai. The company had purchased a four-acre plot of land in the city’s Chandivali area.
Equinix had previously stated that the new data center, which would be called MB3, would be the company’s third such facility in Mumbai. MB3 IBX will be located adjacent to Equinix MB2 IBX and 1.5 km away from MB1 IBX data center.
Chandivali is strategically situated between Mumbai’s western and eastern suburbs, offering excellent connectivity throughout the city. It is also in proximity to Powai, which is home to numerous international and domestic companies. Equinix India currently operates three International Business Exchange (IBX) data centers in Mumbai, named MB1, MB2, and MB4. The newly acquired land houses one of these centers, MB2.
The company plans to continue its investment in the market to support India’s growing digital economy. They have announced plans for the development of MB3, with an initial investment of $86 million. MB3 will offer a starting capacity of over 1,375 cabinets, expanding to more than 4,150 cabinets upon completion. Additionally, Equinix has revealed its expansion in Chennai, with an investment of $65 million for the first phase, which will provide 850 cabinets and a total capacity of 4,950 cabinets when fully developed.
Recent Transactions
Mumbai’s real estate market sees significant land transactions, with major deals involving residential, commercial, and industrial properties. Recent notable transactions highlight the demand for prime land in key locations across the city.
In a recent land deal, DMart acquired a plot of land in Chandivali for Rs. 117 crore. In another major land deal, Hindustan Construction Company (HCC) sold a 2.35 lakh sq mtr land block in Panvel near Mumbai to Oak & Stone Construction Pvt Ltd for Rs 95 crore.
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