Lodha Developers Sells Prime Land to STT GDC for Data Centre Expansion

Lodha Developers Ltd, a prominent real estate firm, has finalized the sale of over 24 acres of land in Mumbai's Palava region to Singapore-based STT Global Data Centres for an estimated Rs 500 crore, sources disclosed. The transaction was officially registered, signaling a significant move in data center expansion.

This deal involves the transfer of 1.74 acres from Lodha Developers and 22.6 acres from its subsidiary, Palava Induslogic 4 Pvt Ltd. It is part of a broader initiative to establish a green integrated data center park, with a planned total investment of Rs 30,000 crore, dedicated to enhancing the region's technological infrastructure.

The park aims to accommodate major international and domestic players over a 370-acre expanse, with an operational capacity of 2 gigawatts. This initiative aligns with Lodha's strategy to utilize its extensive land bank in Palava for creating a multifaceted township with residential, commercial, warehousing, and data center facilities.

(With inputs from agencies.)