Amazon pre-leases 4 more acres in Mumbai for its data centre
Summary
Amazon Data Services India pre-leased 4 acres of L&T land in Powai, Mumbai, to expand a data centre campus under construction.
Key points
- Starting rent is about ₹2.76 crore a month, rising 3% a year; total rent exceeds ₹650 crore.
- The term is 17 years 7 months, ending 12 February 2044, with 24 rent-free months spread across it.
- A ₹72 crore lease premium has already been paid.
- This is Amazon's third lease on the campus, bringing it to 13.5 acres.
What it means for Korean companiesLong Indian land leases often combine annual escalation, rent-free months and an upfront premium. Compare total cost over the term, not just monthly rent.