Equinix India Pvt Ltd, a US-based data center company, has acquired a 5,597 sq m (1.38 acres) land parcel in the Chandivali neighborhood of Mumbai for ₹155 crore, as per property registration records accessed by CRE Matrix. In addition to the land, the deal also included a building with a total built-up area of 5,386 square meters.
Details of the Transaction
The land and building were sold by Overseas Packing Industries Pvt Ltd and Warden Hyforce Pvt Ltd. The transaction was officially registered on November 21, 2024, with a stamp duty payment of ₹10.56 crore.
Equinix India’s Expansion Plans
In June 2022, Equinix India announced plans to invest $86 million in building a new data center in Mumbai. The company had previously acquired a four-acre plot of land in the Chandivali area for this purpose.
Equinix has stated that the new facility, named MB3, will be their third data center in Mumbai. MB3 IBX will be located next to the existing MB2 IBX and 1.5 km from MB1 IBX.
Strategic Location of Chandivali
Chandivali benefits from its strategic location between Mumbai’s western and eastern suburbs, providing excellent connectivity across the city. It is also close to Powai, a hub for numerous international and domestic companies. Equinix India operates three International Business Exchange (IBX) data centers in Mumbai, namely MB1, MB2, and MB4. The recently acquired land houses the MB2 center.
Equinix plans to continue expanding in the Indian market to support the country’s growing digital economy. With the MB3 development, the company will invest $86 million, providing an initial capacity of over 1,375 cabinets, which will increase to more than 4,150 cabinets once fully developed. Additionally, Equinix has revealed plans to expand in Chennai, with a $65 million investment for the first phase, which will offer 850 cabinets, ultimately reaching a total capacity of 4,950 cabinets upon completion.
Recent Transactions
With recent land transactions demonstrating robust demand across the residential, commercial, and industrial sectors, Mumbai’s real estate market remains vibrant. The city’s reputation as a top investment destination, fueled by advantageous locations and strong infrastructure advancements, is demonstrated by noteworthy transactions.
In a recent transaction, DMart acquired a land parcel worth ₹117 crore in Chandivali. Another significant land transaction saw Hindustan Construction Company (HCC) sell a 2.35 lakh sq mtr land block in Panvel to Oak & Stone Construction Pvt Ltd for Rs 95 crore.
FloorTap connects you with commercial real estate stakeholders for effective decision-making, regardless of your role as a broker, tenant, or landlord.
