ST Telemedia Global Data Centre has taken a 20-year lease on a 5.4-acre property of Tata Communications in Pune at an initial monthly rent of Rs 1.3 crore, to build data centres.
The effective rent works out to be over $1 at Rs 107 per month per square feet,
The lock-in period for the tenant is 15 years and rent escalates 10 per cent after every three years, according to the lease agreement accessed from real estate data analytics platform CRE Matrix. The entire lease period is locked in for Tata Communications.
ST Telemedia owns and operates 21 data centres across nine cities with a combined area of 38 lakh square feet and IT load of over 220 megawatt. Its campus in Pune, in operation since 2009, has a total capacity of 15 MW, which can be scaled up to 100 MW.
The increasing migration of services to the cloud, rise in data consumption, and digital initiatives by the government have led to an exponential rise in demand for data centres. The current data centre capacity is around 870 MW and, according to Crisil, this is expected to grow to 1,700-1,800 MW by the end of 2025.
While Mumbai is the largest data centre market in India, followed by Hyderabad, Pune is also becoming a favourable location due to its proximity to ports in Mumbai and Nhava Sheva, and its growing importance as a hub for IT companies and other multinationals. It currently has around 6 per cent of the total national market share in data centres.