DLF, a commercial real estate developer, has leased 3,60,000 sq ft at the upcoming Noida IT Park to Singapore-based ST Telemedia Global Data Centres (STT GDC).
The company has committed to double the space at the same facility. Given the government guidelines on data storage, the demand for data centres will increase in coming years.
The rental will be around Rs 60 per sq ft, including power backup charge. The IT Park is spread over 3.5 million sq ft and will take four to five years to complete. The space leased by ST Telemedia Global Data Centres will be ready earlier.
It’s a built-to-suit model and ST Telemedia Global Data Centres will act as an anchor tenant with the option to take more space in future.
DLF is the biggest office space operator in the NCR region having 19 million sq ft. This will be the largest data centre transaction in North India in recent years.
Data centres in top eight cities occupy 7.5 million sq ft and an additional 10 million sq ft is likely to be added over the next two to three years. With 16 data centres across eight cities, ST Telemedia Global Data Centres has 33 percent market share in India’s data centre market.
Knight Frank India is acting as transaction advisor for the project.