Amazon Data Services buys Kalpataru's 54-acre plot for Rs 18.7 billion

Amazon Data Services India has purchased a 54-acre parcel in Thane, near Mumbai, from real estate developer Kalpataru Group for more than Rs 18.7 billion. Amazon paid a record stamp duty of Rs 1.3 billion—the most ever paid for a single transaction. Kalpataru purchased nearly 70 acre in Thane's Balkum neighbourhood from Clariant Chemicals and its subsidiary Color Chem in two separate transactions in 2004 and 2010 for a total of around Rs 3 billion. On a portion of the remaining land, Kalpataru is developing the premium residential project, Paramount. Amazon Data Services India intends to build a hyperscale data centre on the property. Also read: Puravankara plans to develop 15 mn sq ft this yearHousing sales expected to exceed 3.6 lakh units in 2022 in seven cities