Microsoft Bets Big on Pune: Invests ₹519 Crore in Prime Real Estate
Microsoft invests in India's commercial real estate market, purchasing land in Pune's Hinjewadi IT hub
MicrosoftPune Real EstateIndia Commercial Real EstateTech HubData CenterReal Estate PuneSep 11, 2024
According to recent documents, Microsoft has invested approximately ₹519.72 crore for 16.4 acres of prime land in four separate transactions. The land, acquired from Indo Global Infotech City LLP, spans 66,414.5 square meters (~16.4 acres). The deals, registered in August 2024, included a stamp duty of ₹31.18 crore and a registration fee of ₹30,000, as outlined in the sale deed documents.
Microsoft's latest purchase is part of a broader trend of increasing investment in India's commercial real estate sector. This follows other significant real estate deals by the tech giant, highlighting its commitment to expanding its footprint in India.
In 2022, Microsoft acquired a 10.89 lakh sq ft commercial plot in Pune from Finolex Industries for ₹328.84 crore. This property, located at Pimpri Waghere, involved a stamp duty payment of ₹16.44 crore.
Earlier this year, Microsoft secured 48 acres of land in Hyderabad for ₹267 crore. Additionally, Microsoft had previously acquired three land parcels in Hyderabad for around ₹275 crore in 2022, aimed at establishing a data center.
These investments are part of Microsoft's strategic expansion within India, particularly focusing on enhancing its data center operations. The company's network of data centers currently includes key locations in Pune, Mumbai, and Chennai, underscoring its growing presence in the Indian market.
The Pune real estate market has also shown positive growth, with a 25% increase in property registrations year-on-year as of July 2024. The Maharashtra government's Department of Registrations and Stamps reported that 13,314 properties were registered in July 2024, compared to 10,614 in the same period the previous year.
As Microsoft continues to bolster its infrastructure in India, the company's investments reflect a broader trend of technological and commercial growth in the region.
About Microsoft Microsoft Corporation (India) Private Limited is a subsidiary of the global technology giant Microsoft Corporation. The company has been operating in India since 1990 and has made significant investments in the country's technology and real estate sectors.
Information Pune's Hinjewadi IT hub is a major technology hub in India, with several top tech companies having a presence there. The area has seen significant growth in recent years, with several new companies setting up operations there.
Frequently Asked Questions
How much did Microsoft invest in Pune's real estate market?
Microsoft invested approximately ₹519.72 crore in Pune's Hinjewadi IT hub.
What is the size of the land purchased by Microsoft?
The land spans 66,414.5 square meters (~16.4 acres).
What is the purpose of Microsoft's investment in Pune?
The investment is part of Microsoft's strategic expansion within India, particularly focusing on enhancing its data center operations.
How has the Pune real estate market performed in recent years?
The Pune real estate market has shown positive growth, with a 25% increase in property registrations year-on-year as of July 2024.
What is Microsoft's presence in India like?
Microsoft has been operating in India since 1990 and has made significant investments in the country's technology and real estate sectors.
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