Amazon buys 38-acre Land from Top Realtor 'Lodha Group' in Mumbai

According to property registration documents obtained by Propstack, Amazon paid Rs. 450 crore to Macrotech Developers, popularly known as Lodha Group, for a 38-acre land tract in Ambernath, close to Mumbai.

According to the paperwork, a stamp duty of Rs. 27 crore was paid for the transaction, which was recorded on November 12, 2024.

The land piece is near the Palava City project, which is being developed by the Lodha Group near Mumbai.

During an investor call earlier this year, Abhishek Lodha stated that Palava City, which spans approximately 4,500 acres, could grow and produce over Rs. 8,000 crore annually in the coming years due to the construction of commercial and residential areas, warehouses, and industrial spaces, as well as a center for life sciences.

Amazon Data Services Pvt Ltd leased 1.74 lakh square feet of freehold industrial land in Powai, Mumbai, from L&T in August 2023. According to lease paperwork of land parcel obtained by real estate expert CRE Matrix, the rent had calculated to be Rs. 2.59 crore per month.

According to the registration paperwork, Amazon Data Services had leased a 5.5-acre parcel of property in Powai, next to the plot for which the lease was signed on August 3, from L&T in a similar transaction in June 2022.

"We remain committed to India’s digital and AI transformation as is evident in the billions of dollars we have announced in planned investments into cloud infrastructure in India ($12.7 billion by 2030)," Amazon Web Services said.