Microsoft Invests Rs 520 Crore in Pune’s IT Hub with 16.4-Acre Land Acquisition
Microsoft has acquired a 16.4-acre land parcel in Pune’s Hinjewadi area, a major IT hub, for a whopping Rs 520 crore. This acquisition is part of Microsoft’s broader strategy to strengthen its infrastructure and support its growing operations in the country.
The Details of the Acquisition
Microsoft’s Indian subsidiary, Microsoft Corporation (India) Private Limited, completed the purchase of 66,414.5 square meters of prime land in August 2024. The land was acquired from Indo Global Infotech City LLP in four separate transactions, with a total investment of Rs 519.72 crore. The deal also included a stamp duty of Rs 31.18 crore and a registration fee of Rs 30,000.
Why Pune’s Hinjewadi is the Perfect Spot
Pune’s Hinjewadi area is renowned for its thriving IT ecosystem, making it an ideal location for tech giants like Microsoft. This acquisition aligns with Microsoft’s ongoing efforts to expand its data center operations and enhance its technological infrastructure in India. The company already has a significant presence in Pune, Mumbai, and Chennai, and this new investment will further bolster its capabilities.
Microsoft’s Growing Investments in India
This isn’t Microsoft’s first major investment in India’s real estate sector. In 2022, the company acquired a 25-acre plot in Pune’s Pimpri-Chinchwad for Rs 328 crore, where it is currently developing a data center. Earlier in 2024, Microsoft also purchased 48 acres of land in Hyderabad for Rs 267 crore, further solidifying its commitment to the Indian market.
Conclusion
Microsoft’s latest land acquisition in Pune is a testament to its long-term vision for growth and innovation in India. As the company continues to invest in infrastructure and technology, it is poised to play a pivotal role in shaping the future of India’s IT landscape.
