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Microsoft is expanding its footprint in Pune and has acquired a 16.4-acre land parcel for ₹453 crore, its second purchase in just over a month, according to data from Square Yards.
The land parcel is also located in Hinjewadi, a prominent IT hub not only in the city and state but also in the country. Microsoft acquired it from Viva Highways and paid a stamp duty of ₹27 crore on the transaction.
In August, the Redmond-based tech giant acquired a similarly sized land parcel in the same area for ₹520 crore.
“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,” said Anand Moorthy, Co-founder and CBO, Capital Market & Services, Square Yards.
“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,” he added.
He pointed out that India is one of the few countries with resources spanning from creation to consumption, making it the most lucrative geography to invest in. “What also comes out of these capital investments in land and buildings by tech giants is confidence in the appreciation of real estate, unlike in other countries.”
“The government’s push to digitise 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.”
Microsoft has been making big strides in India’s commercial real estate, with key deals including the purchase of 25 acres in Pimpri-Chinchwad for ₹328 crore in 2022, and 48 acres in Hyderabad earlier this year for ₹267 crore. These acquisitions were part of the company’s broader strategy to strengthen its data centre operations, with major facilities already set up in Pune, Mumbai, and Chennai.
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