Microsoft has bolstered its presence in India’s real estate market with a major investment in Pune’s Hinjewadi, according to a report by Square Yards. The report revealed the tech giant has acquired land worth approximately ₹519.72 crore, covering 16.4 acres. This investment highlights Microsoft's expansion of its commercial real estate footprint in India, especially in areas related to data centres and office spaces.
In August 2024, Microsoft Corporation (India) Private Limited acquired 66,414.5 square metres (about 16.4 acres) of land from Indo Global Infotech City LLP. The transaction incurred a substantial stamp duty of ₹31.18 crore and a registration fee of ₹30,000.
This acquisition continues Microsoft's trend of making significant real estate investments in India, following their 2022 purchase of a 25-acre site in Pimpri-Chinchwad for ₹328 crore and an earlier acquisition this year of 48 acres in Hyderabad for ₹267 crore. These deals are part of Microsoft's strategy to strengthen its infrastructure and operations in India.
Microsoft’s footprint in India includes data centres in Pune, Mumbai, and Chennai, and the company employs over 23,000 people across major cities such as Bengaluru, Chennai, Hyderabad, Mumbai, and Pune.
Besides real estate investments, Microsoft is advancing its skilling initiatives. In early 2024, it launched “ADVANTA(I)GE INDIA,” a program aimed at providing 2 million Indians with AI and digital skills by 2025, as part of its broader ‘Skills for Jobs’ initiative.
“The company's network of data centres already includes locations in Pune, Mumbai, and Chennai, solidifying its presence across key markets,” the report adds.
In another development in the Pune real estate market, Prestige Exora Business Parks, a wholly owned subsidiary of the publicly listed real estate developer Prestige Estates based in Bengaluru, acquired a 4.57-acre plot in Pune for ₹200 crore last week, according to property registration documents reviewed by CRE Matrix. The land, previously owned by Pune-based B U Bhandari M&M Realtors LLP, was officially registered on April 16, 2024. According to the documents, the stamp duty for the land was more than ₹14 crore.
According to data shared by Maharashtra government’s Department of Registrations and Stamps, the Pune real estate market saw a 25% year-on-year (YoY) increase in property registrations in July 2024. The number of properties registered rose to 13,314, up from 10,614 during the same period the previous year, as per the Inspector General of Registration and Controller of Stamp (IGR).
Leave a Comment
Your email address will not be published. Required field are marked*