Amazon India has leased a 4,50,000 sq ft of office space in Chennai to setup a campus in the South Indian city. The development was first reported by the Economic Times.
The report, which is based on two people aware of the company’s plan, Amazon will occupy around 2,00,000 sq ft of space in the first phase, and then will expand it to around 4,50,000 sq ft. A person aware of the matter said,
The office space will be occupied in two phases. Amazon will be paying a rent of about Rs 90 per sq ft. It plans to occupy the first phase by first quarter of 2018.
The rental is the highest so far commanded by any IT SEZ in south India. Amazon India has taken up more office space than its rival Flipkart. The company occupies 3.1 mn sq ft of office space in India, more than four times the 700,000 sq ft that Flipkart has on rent.
The space is expected to be set up in the coming one and half years. Amazon India had recently leased 6,00,000 sq ft of office space in Hyderabad, which is touted as the second-largest office space deal in the country so far this year.
The company’s new campus in Chennai will come up at Ramanujan IT City, which is being executed by TRIL Infopark. The 4.6 million-sq ft commercial property is a joint venture between TRIL, Indian Hotels Company (IHCL) and Tamil Nadu Industrial Development Corporation (TIDCO).