Microsoft buys 48-acre land parcel in Hyderabad in a transaction estimated to be worth ₹267 crore - Hindustan Times
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Microsoft buys 48-acre land parcel in Hyderabad in a transaction estimated to be worth 267 crore

May 06, 2024 05:54 PM IST

The land parcel that Microsoft has bought is located in Elikatta Village, Hyderabad in Telangana. The sale deed was registered on April 18, documents showed

Tech giant Microsoft Corporation (India) Pvt Ltd has bought a 48 acre land parcel in Hyderabad for 267 crore, documents accessed by Propstack showed.

Tech giant Microsoft has bought an almost 48 acres land parcel in Hyderabad for <span class='webrupee'>₹</span>267 crore (REUTERS/ FILE)
Tech giant Microsoft has bought an almost 48 acres land parcel in Hyderabad for 267 crore (REUTERS/ FILE)

The sale deed was registered on April 18, the documents showed.

The per acre price for the land parcel, located in Elikatta Village, Farooqnagar Mandal, Ranga Reddy district, Hyderabad in Telangana, works out to be around 5.56 crore, the documents showed.

Land aggregator Sai Balaji Developers facilitated the deal, the documents showed.

Responding to a query sent by HT Digital, Microsoft said that it had “no information to share at this time.”

According to media reports, in 2022, Microsoft had acquired three land parcels in Hyderabad for around 275 cr to establish a data center.

In 2022, Microsoft Corporation (India) had acquired 10.89 lakh sq ft of commercial plot in Pune from Finolex Industries for a consolidated amount of 328.84 crore. The commercial plot is located at Pimpri Waghere in Pune and has been acquired through an agreement with Finolex Industries to transfer the lease for 328.84 crore, the documents showed. The company had then paid a stamp duty of 16.44 crore on the deal, the documents showed.

Also Read: Finolex Industries sells leasehold rights of 25 acres of land in Pune for 470 crore

The Noida Authority in 2021 had allotted a plot spanning over 60,000 square metre to Microsoft India (R&D) private limited in sector-145 at a premium of 103.66 crore. 

Also Read: Noida allots 60k-sqm plot to Microsoft in sector-145

Real estate developers and entities sealed approximately 101 separate land deals in fiscal year 2023-24, cumulatively accounting for nearly 2,989 acres across the country, according to data shared by Anarock.

Also Read: More than 101 land deals for approximately 2,989 acres closed in FY-24 across cities, including Ayodhya

 

 

 

 

 

 

 

 

 

 

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