Microsoft India buys another land parcel for ₹453 crore in Pune's IT hub Hinjewadi
Pune real estate: Microsoft had earlier bought a 16.4 acres land parcel in Pune's Hinjewadi for Rs. 520 crore
Global tech giant Microsoft has invested close to ₹453 crore on a land parcel spread across an area of 16.4 acres in Pune’s Hinjewadi, a major IT hub, property registration documents accessed by Square Yards showed.
The recent land deal in Pune, registered in September 2024, involved the purchase of 66,450 square metres (approximately 16.4 acres) from Viva Highways Limited, the documents showed.
This transaction was registered on September 5. The deal incurred a stamp duty of Rs. 27.18 crore and a registration fee of Rs. 30,000, the property registration documents showed.
It had earlier bought a similar sized land parcel of over 16 acres in Pune's Hinjewadi for Rs. 519.72 crore, documents accessed by Square Yards showed.
An email query sent to Microsoft did not get any response. The story will be updated once a response is received.
With this Microsoft has so far bought land parcels worth ₹972 crore in the last one month in Pune. In recent years, Microsoft’s investments in India's commercial real estate sector have increased, spanning data centers, development centers, and flexible office spaces.
Microsoft's real estate deals in India
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 located at Pimpri Waghere in Pune was acquired through an agreement with Finolex Industries to transfer the lease for ₹328.84 crore, property documents showed. The company had then paid a stamp duty of ₹16.44 crore on the deal, the documents showed.
Earlier this year, Microsoft secured 48 acres of land in Hyderabad for Rs. 267 crore.
Also Read: Microsoft expands footprint in India with 16.4-acre land acquisition in Pune
“India is the most exciting market for tech expansion right now, having a strong talent pool across the country and a maturing infrastructure for global tech giants. Demonstrating this trend, our data intelligence research on registered land transactions indicates that more and more tech-oriented global companies are expanding their presence in India for new office spaces, development centres, and data centres," Anand Moorthy, co-founder and CBO, Capital Market & Services, Square Yards.
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.
In FY-24, over 83 land deals for over 1,135 acres closed in top seven cities alone, remaining 18 deals over 1,853 acres in tier 2 and 3 cities, including Ahmedabad, Ayodhya, Jaipur, Nagpur, Mysuru, Ludhiana, and Surat.
Among the top cities, NCR clocked 29 land deals for more than 313 acres, followed by MMR with 19 land deals for approximately more than 157 acres.