Microsoft Acquires 2nd Land Parcel in Pune, Invests Nearly Rs. 1,000 Crore in Two Months

Mumbai / September 13, 2024: In a strategic move to bolster its presence in India, Microsoft has acquired a land parcel in Pune’s Hinjewadi for Rs. 453 crore. Hinjewadi, one of India’s most prominent IT hubs, continues to attract major investments from global tech players, with this being Microsoft’s second major purchase in the area in just over a month. In August, the company had secured another 66,415 square metre (16.4 acre) land parcel worth approx. Rs. 520 crore in the same locality, Square Yards said in a statement. 

Anand Moorthy, Co-founder and CBO, Capital Market & Services, Square Yards, said, “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. India is one of the only countries to have resources from creation to consumption, which makes it the most lucrative geography to invest in. What also comes out of these capital investments in land and buildings by tech giants is the confidence in the appreciation of real estate, unlike in other countries.

Moreover, the government’s push to digitize land records is streamlining land acquisition processes and speeding up approvals, thus boosting global confidence in India. Once seen as a challenging market due to transparency issues, India is now becoming a prime destination for international firms to set up operations through long-term capital commitments.”

According to Square Yards, the recent land deal in Pune, registered in September 2024, involved the purchase of 66,450 square meters (approximately 16.4 acres) from Viva Highways Limited. The transaction which registered under its Indian arm Microsoft Corporation (India) Private Limited incurred a stamp duty of Rs. 27.18 crore along with a registration fee of Rs. 30,000.