At the premium of Rs 103.66 crore, the Noida authority has allotted an institutional property of 60,000 square metres to Microsoft India (R&D) private limited. Following the agreement, the tech giant will have to deposit 40% of the amount within a month and the remaining 60% in eight instalments in four years.

“The company will be given five years to complete the project. The investment by Microsoft in Noida will help NCR to develop as a software hub. It will also create job and encourage other companies to invest in the region,” reported a business daily quoting the authority’s statement.

In a bid to encourage private investment, Greater Noida, Yamuna and Noida authority are offering new plot schemes to allot industrial and institutional plots to companies.  In Greater Noida, nearly 64 industrial plots are available for allotment, reported the business daily. 

(With inputs from agecies)