Microsoft has made a notable foray into India’s commercial real estate market with a substantial investment in Pune’s thriving IT hub of Hinjewadi. The tech titan has acquired 16.4 acres of prime land for approximately ₹519.72 crore, solidifying its commitment to expanding its footprint in one of India’s key technology and business districts.
The land, acquired from Indo Global Infotech City LLP, spans 66,414.5 square meters and involves four separate transactions, registered in August 2024. The deal included a stamp duty payment of ₹31.18 crore and a nominal registration fee of ₹30,000, as per the sale deed documents.
This acquisition aligns with Microsoft’s broader strategy of enhancing its presence in India’s commercial real estate sector, following a series of significant investments. In 2022, Microsoft purchased a 10.89 lakh square feet commercial plot in Pune from Finolex Industries for ₹328.84 crore. This transaction also involved a substantial stamp duty of ₹16.44 crore. Earlier this year, Microsoft extended its investments to Hyderabad, acquiring 48 acres of land for ₹267 crore. Additionally, in 2022, the company secured three land parcels in Hyderabad for approximately ₹275 crore, aimed at establishing a new data center. These moves underscore Microsoft’s strategic emphasis on bolstering its data center operations across India.
The Pune real estate market has been experiencing robust growth, reflected in a 25% increase in property registrations year-on-year as of July 2024. According to the Maharashtra government’s Department of Registrations and Stamps, property registrations surged to 13,314 in July 2024, compared to 10,614 in the same month of the previous year. Microsoft’s latest investment in Pune is indicative of a broader trend of expanding technological and commercial infrastructure in India, mirroring the country’s rising significance in the global tech landscape. As Microsoft continues to enhance its infrastructure, this investment reinforces its role as a key player in India’s evolving real estate and technology sectors.
