Microsoft's Rs 519 Crore Investment in Pune: A New Tech Hub Emerges
Microsoft invests in India's commercial real estate market with a significant purchase in Pune's Hinjewadi, a major IT hub.
MicrosoftIndiaReal EstateTechnologyPuneReal Estate NewsSep 11, 2024
According to recent documents accessed by Square Yards, Microsoft has invested approximately Rs 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 Rs 31.18 crore and a registration fee of Rs 30,000, as outlined in the sale deed documents. Microsoft Corporation (India) Private Limited'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.
Information
Microsoft Corporation is an American multinational technology company headquartered in Redmond, Washington. The company is one of the largest and most influential technology companies in the world, with a market capitalization of over $2 trillion.Square Yards is a technology-enabled real estate brokerage and mortgage marketplace that provides a comprehensive platform for property buyers, sellers, and real estate agents.
Frequently Asked Questions
How much did Microsoft invest in Pune's Hinjewadi?
Microsoft invested approximately Rs 519.72 crore for 16.4 acres of prime land in four separate transactions.
What is the significance of Microsoft's investment in Pune?
Microsoft's investment in Pune reflects the company's commitment to expanding its footprint in India and enhancing its data center operations.
What is the current state of the Pune real estate market?
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 strategy for expansion in India?
Microsoft's strategy for expansion in India focuses on enhancing its data center operations, with key locations in Pune, Mumbai, and Chennai.
How does Microsoft's investment in Pune impact the local economy?
Microsoft's investment in Pune is expected to have a positive impact on the local economy, creating jobs and stimulating economic growth.
Related News Articles
Kalpataru Limited Expands its Footprint in Maharashtra with a New Project in Nagpur
Kalpataru, a prominent real estate developer in the Mumbai Metropolitan Region, is set to enter the 'Zero Mile City of India' – Nagpur, with a new project located close to the Samruddhi Expressway.
IKEA Store in Noida: Uttar Pradesh CM Yogi Adityanath Lays Foundation for ₹5,500-crore Project
Uttar Pradesh Chief Minister Yogi Adityanath lays foundation stone for IKEA store in Noida, a ₹5,500-crore project set to boost commercial real estate and industrial development in the state.
COWRKS Expands its Premium Workspace Portfolio with New Centres in Mumbai and Bengaluru
COWRKS, a leading provider of premium workspaces, has announced its expansion with the opening of new centres in Mumbai and Bengaluru, adding 1.4 lakh sq ft to its total presence across India.
GujRERA Orders Developers to Open Project Bank Accounts in Gujarat
The Gujarat Real Estate Regulatory Authority (GujRERA) has directed all real estate developers in the state to open separate project bank accounts in Gujarat.
Mumbai's Elite Seek Luxury in Rs 187 Crore Apartment at Lodha Sea View
A luxury apartment at Lodha Sea View in Mumbai's Worli has been sold for a record-breaking Rs 187 crore. The property's prime location and ongoing infrastructure projects, such as the Mumbai Coastal Road and Metro Line-3, are driving its desirability.
Keystone Realtors Sees 45% Drop in Net Profit Amid Higher Expenses in Q1 FY25
Realty firm Keystone Realtors reports 45% decline in net profit at Rs 25.82 crore for June quarter FY25, citing higher expenses. Total income rises to Rs 437.20 crore during April-June period.