Paytm buys 10 acres land for over Rs 120 crore in Noida for mega campus
Digital payments company Paytm has purchased 10 acres of land in Noida to establish a new headquarters to accommodate its swelling staff, in one of the largest real estate deals by an Indian consumer internet startup in recent times.
Property consultants peg the deal size at ₹120-150 crore, based on the market price of ₹12-15 crore an acre at Sector 137 off Noida Expressway where Paytm has bought the land.
The price could be slightly cheaper, however, as Paytm owner One97 Communicationspurchased the land directly from Noida Authority, the property consultants said, declining to be identified. The authority is the nodal body for managing Noida’s infrastructure.
Paytm chief operating officer Kiran Vasireddy confirmed that the company purchased land for a new headquarters without disclosing financial and other details