Pranav Hotkar_1.jpg)
Mumbai, India - January 13, 2026 - Veteran Indian actor Jeetendra and his son Tusshar Kapoor have sold a commercial data center property in Mumbai’s Chandivali locality to NTT Global Data Centers & Cloud Infrastructure India, a subsidiary of Japan’s NTT Group, for INR 559 Crore (~USD 61.9 million), according to property registration documents reviewed by multiple media outlets.
The transaction was registered on January 9, with the asset sold by entities linked to the Kapoor family, Pantheon Buildcon Pvt. Ltd., associated with Jeetendra, and Tushar Infra Developers Pvt. Ltd., owned by Tusshar Kapoor. The buyer, NTT Global Data Centers & Cloud Infrastructure India, is expanding its footprint in India amid rising demand for enterprise and hyperscale data center capacity.
The property forms part of Balaji IT Park in suburban Chandivali and comprises a ground-plus-ten-story building, referred to as DC-10, which houses a fully built data center facility. The transaction also includes an adjacent four-story structure dedicated to diesel generator infrastructure, supporting mission-critical operations. The combined built-up area spans approximately 30,195 square meters, or roughly 325,000 square feet.
According to registration records accessed through real estate consultancy Square Yards, the deal did not attract stamp duty under a Maharashtra government resolution applicable to certain commercial transactions, though a metro cess of approximately INR 5.59 lakh (USD 6,190) was paid.
The acquisition underscores growing foreign investor interest in India’s data center real estate, particularly in Mumbai, which remains the country’s largest data center market by capacity. Chandivali has emerged as a favored micro-market due to its proximity to the city’s commercial hubs, transport links, and access to fiber connectivity and power infrastructure.
NTT Group, one of the world’s largest telecommunications and IT services companies, has been steadily expanding its data center operations in India to support cloud service providers, financial institutions, and enterprise customers. The company operates multiple facilities across Mumbai, Chennai, Bengaluru, and Noida and continues to pursue acquisitions and greenfield developments to scale capacity.
Market participants note that the sale reflects a broader trend of institutional capital targeting stabilized data center assets rather than development-stage projects, as operators seek faster deployment timelines amid rising AI, cloud, and digital services demand. Similar high-value transactions in the Balaji IT Park area over the past year further highlight sustained appetite for data center-ready real estate in Mumbai’s suburban corridors.
