Actor Jeetendra Kapoor and two firms owned by his family, Pantheon Buildcon and Tusshar Infra Developers, have sold a 2.39-acre parcel Andheri, Mumbai, for ₹855 crore to Japan’s NTT Global Data Centres & Cloud Infrastructure India, the largest data-centre operator in the country.
Andheri is one of the sought-after residential and commercial markets in the city. The transaction, registered in May, is the most expensive land deal this year in Mumbai.
The second-most expensive deal featured Rishabraj Estate Developers, where the firm in March bought 15,551 square metres for ₹539.25 crore in Borivali. In February, Vageshvari Properties bought 1,857.02 square metres of land and 1,848 square metres of builtup area for ₹276 crore in Malabar, the third-most expensive deal, according to data analytics by Square Yards.
The transaction (of Jeetendra Kapoor and family) comprised two contiguous land parcels spanning 9,664.68 square metres. The site houses the Balaji IT Park, and includes three constructed buildings with a cumulative builtup area of 490,534 square feet, according to property registration documents from the Inspector General of Registration (IGR) and Square Yards data.
The deal incurred a stamp duty of ₹8.69 crore.
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Kapoor is also the promoter and non-executive chairman of Balaji Telefilms.
Mumbai is also the data-centre hub not only of India but also the world, with Mumbai ranking sixth globally in under-construction data centre capacity, surpassing London and Dublin.
According to a report by Cushman & Wakefield, Mumbai ranks seventh-most established data centre market in the APAC region.
At the end of last year, the city had 335 Mw of data centre capacity under construction, which, once completed, will expand its operational capacity by 62 per cent. NTT operates seven data centres in Mumbai and Navi Mumbai.
Mumbai also accounts for 42 per cent of India’s projected under-construction capacity.
Digital-infrastructure upgrades in the city further support the growth of data centres.