Microsoft India (R&D) private limited was allocated a plot measuring over 60,000 square metres in sector-145 by the Noida authority under Yogi Adityanath Government in UP on Thursday at a premium of 103.66 crore. Microsoft’s investment would result in the creation of 3,000 jobs in Noida, according to Ritu Maheshwari, CEO of the Noida authority
Officials with the Noida authority confirmed that the global tech conglomerate has been allocated plots A-01 and A-02 under the IT/ITES group. “According to the agreement, the corporation would be required to deposit 40% of the purchase price in order to furnish the sale deed within a month. The remaining balance is payable in eight half-yearly instalments. The company has been given an allotment letter,” said Ritu Maheshwari, CEO of the Noida authority.
Maheshwari said that the company would soon publish a comprehensive project study. “They have indicated that they would invest Rs 3,000 crore in the project, which will create 3,000 jobs. We will convene shortly to discuss more details,” she said.
Officials stated that the investment would help establish Noida as a software hub and will also encourage additional private sector investment in the area. Officials have not disclosed the start date or projected completion date of the construction project.
This initiative is part of the overall plan of the UP Government under Chief Minister Yogi Adityanath to make UP the leading manufacturing & Technology hub of India.