Realty deal: Microsoft India buys 16.4 acre land in Pune for Rs 520 crore
Source: Business Standard
Microsoft, Microsoft logo(Photo: Shutterstock)
In the recent years, Microsoft’s investments in India’s commercial real estate sector have increased, spanning data centers, development centers, and flexible office spaces.
As per the registration document reviewed by Square Yards, Microsoft’s Indian arm, Microsoft Corporation (India) Private Limited, acquired 66,414.5 square meters (16.4 acres) of prime land in Pune’s Hinjewadi. The transaction, registered in August 2024, involved the purchase of land from Indo Global Infotech City LLP. The deal incurred a stamp duty of R. 31.18 crore and a registration fee of Rs 30,000.
In 2022, the company also acquired a 25-acre plot in Pimpri-Chinchwad for Rs 328 crore. Earlier this year, Microsoft secured 48 acres of land in Hyderabad for Rs 267 crore. Both deals are part of Microsoft’s broader strategy to expand to expand its presence in India, particularly within its data centre operations. The company’s network of data centres already includes locations in Pune, Mumbai, and Chennai, solidifying its presence across key markets.
Currently, the company’s workforce in India includes over 23,000 employees across cities such as Bengaluru, Chennai, Hyderabad, Mumbai, and Pune. These teams support various business functions, including sales, marketing, research, development, and customer support. Additionally, in early 2024, Microsoft launched a major skilling initiative in India, aiming to equip 2 million individuals with AI and digital skills by 2025. The program, known as ADVANTA(I)GE INDIA, is part of the company’s “Skills for Jobs” initiative designed to foster a future-ready workforce.
Key Highlights:
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Investment Amount: Microsoft India has invested Rs. 519.72 crore in the land acquisition. -
Location: The acquired land spans 66,414.5 square meters (16.4 acres) in Hinjewadi, Pune. -
Expansion Strategy: This investment aligns with Microsoft’s broader strategy to expand its data center operations and presence in India. -
Previous Acquisitions: In recent years, Microsoft has also acquired land in Pimpri-Chinchwad and Hyderabad. -
Employee Base: Microsoft currently employs over 23,000 individuals in India, spread across multiple cities. -
Skilling Initiative: The company launched a major skilling program, ADVANTA(I)GE INDIA, to equip 2 million people with AI and digital skills by 2025.
Bengaluru-based listed real estate developer Prestige Estates’ wholly owned subsidiary Prestige Exora Business Parks purchased a 4.57-acre land parcel in Pune for Rs 200 crore last week, according to property registration documents accessed by CRE Matrix.The land was sold by Pune-based B U Bhandari M&M Realtors LLP for which the transaction was registered on April 16, 2024, the documents showed.
The stamp duty paid for the land is over Rs 14 crore, according to the documents.
First Published: Sep 11 2024 | 3:08 PM IST
