The land parcel can be situated in Hinjewadi, a distinguished IT hub not solely within the metropolis and state but additionally within the nation. Microsoft acquired it from Viva Highways and paid a stamp responsibility of ₹27 crore on the transaction.
In August, the Redmond-based tech large acquired a equally sized land parcel in the identical space for ₹520 crore.
- Additionally learn: Microsoft acquires 16.4-acre land in Pune for ₹520 crore
“India is essentially the most thrilling marketplace for tech enlargement proper now, having a robust expertise pool throughout the nation and a maturing infrastructure for world tech giants,” stated Anand Moorthy, Co-founder and CBO, Capital Market & Companies, Sq. Yards.
“Demonstrating this development, our knowledge intelligence analysis on registered land transactions signifies that increasingly tech-oriented world firms are increasing their presence in India for brand spanking new workplace areas, growth centres, and knowledge centres,” he added.
He identified that India is among the few international locations with assets spanning from creation to consumption, making it essentially the most profitable geography to spend money on. “What additionally comes out of those capital investments in land and buildings by tech giants is confidence within the appreciation of actual property, in contrast to in different international locations.”
“The federal government’s push to digitise land information is streamlining land acquisition processes and rushing up approvals, thus boosting world confidence in India. As soon as seen as a difficult market resulting from transparency points, India is now changing into a major vacation spot for worldwide companies to arrange operations by way of long-term capital commitments.”
Microsoft has been making massive strides in India’s business actual property, with key offers together with the acquisition of 25 acres in Pimpri-Chinchwad for ₹328 crore in 2022, and 48 acres in Hyderabad earlier this 12 months for ₹267 crore. These acquisitions have been a part of the corporate’s broader technique to strengthen its knowledge centre operations, with main amenities already arrange in Pune, Mumbai, and Chennai.
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