Lodha sells 24-acre land in Mumbai to STT Global Data Centres for Rs 500 cr

New Delhi: Realty firm Lodha Developers Ltd has sold over 24- acre land in Mumbai region to Singapore-based STT Global Data Centres for about Rs 500 crore, sources said.

The land deal has already been registered.

According to sources, ST Telemedia Global Data Centres (STT GDC), a Singapore-based data centre services provider, has recently acquired 24.34 acres of land at Palava.

Lodha Developers has sold 1.74 acres while its subsidiary Palava Induslogic 4 Pvt Ltd has sold 22.6 acres land for a total consideration of about Rs 499 crore, they added.

It did not comment on the land deal. Earlier this month, Lodha Developers signed a Memorandum of Understanding (MoU) with the Maharashtra government for setting up green integrated data centre park at Palava.

The MoU outlines that the total proposed investment would be of Rs30,000 crore, creating 6,000 direct and indirect jobs.

The park, spread over 370 acres, with a planned capacity of 2 gigawatts, is designed to host multiple leading international and domestic players.