Microsoft Invests Big in Pune's Real Estate: A New Tech Hub Emerges
Microsoft buys land in Pune's Hinjewadi, a major IT hub, for Rs 519 crore, marking a significant investment in India's commercial real estate market.
MicrosoftIndiaReal EstatePuneHinjewadiReal Estate MumbaiSep 11, 2024
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 Rs 31.18 crore and a registration fee of Rs 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 Corporation (India) Private Limited
Microsoft Corporation (India) Private Limited is a subsidiary of Microsoft Corporation, a global technology leader. The company has been operating in India for over two decades, providing a range of products and services, including software, cloud computing, and data center solutions.
Information
The Indian real estate market has seen significant growth in recent years, driven by increasing demand for commercial and residential properties. The market is expected to continue growing, driven by government initiatives and increasing investment from domestic and international players.Indo Global Infotech City LLP is a real estate development company based in Pune, India. The company has developed several commercial and residential projects in the region.
Frequently Asked Questions
How much did Microsoft invest in Pune's real estate market?
Microsoft invested approximately Rs 519.72 crore for 16.4 acres of prime land in four separate transactions.
What is the location of the land purchased by Microsoft?
The land is located in Hinjewadi, a major IT hub in Pune.
What is the purpose of Microsoft's investment in India's real estate market?
Microsoft's investment is part of its 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 the expected growth trend for the Indian real estate market?
The Indian real estate market is expected to continue growing, driven by government initiatives and increasing investment from domestic and international players.
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