Microsoft Acquires 16.4-Acre Land in Pune's Hinjewadi for ₹520 Crore

Microsoft acquires 16.4 acre land in Pune's industrial area - Times of India

Microsoft's Indian arm has reportedly acquired 66,414.5 square meters (16.4 acres) of land in Pune's Hinjewadi area for Rs 519.72 crore. According to media reports citing property tech platform Square Yards, the registration document revealed the tech giant's purchase of the land parcel in one of India's prominent IT hubs from Indo Global Infotech City LLP. The deal reportedly incurred a stamp duty of Rs 31.18 crore and a registration fee of Rs 30,000.Microsoft's latest land investment in Pune adds to the company's growing presence in India's commercial real estate sector. The company has been investing in data centres, development centres, and flexible office spaces in recent years. Microsoft's increasing presence in India The company has been actively expanding its presence in India. In 2022, Microsoft purchased a 25-acre plot in Pimpri-Chinchwad for Rs 328 crores. This year, the company acquired 48 acres of land in Hyderabad for R 267 crore. These deals are reportedly part of Microsoft's plans to expand its data centre operations in India. The company already has data centres in Pune, Mumbai, and Chennai. Microsoft now has over 23,000 employees in India working in cities like Bengaluru, Chennai, Hyderabad, Mumbai, and Pune. These teams work in sales, marketing, research, development, and customer support. Earlier this year, Microsoft started a program called ADVANTA(I)GE INDIA to train 2 million people in AI and digital skills by 2025. This program is part of Microsoft's "Skills for Jobs" initiative to help India have a workforce that is ready for the coming days. Microsoft's latest Work Trend Index claimed that 90% of Indian leaders said the people they hire will need new skills to prepare them for the growth of AI. Furthermore, 78% of Indian workers said that they don't have the right AI capabilities to complete their current work. The company also said this program will focus on training individuals in Tier 2 and Tier 3 cities, as well as rural areas, enabling people to participate in the new era of AI and unlock inclusive socio-economic progress. The TOI Tech Desk is a dedicated team of journalists committed to delivering the latest and most relevant news from the world of technology to readers of The Times of India. TOI Tech Desk's news coverage spans a wide spectrum across gadget launches, gadget reviews, trends, in-depth analysis, exclusive reports and breaking stories that impact technology and the digital universe. Be it how-tos or the latest happenings in AI, cybersecurity, personal gadgets, platforms like WhatsApp, Instagram, Facebook and more; TOI Tech Desk brings the news with accuracy and authenticity.

Microsoft acquires ₹520 crore land parcel in Pune's Hinjewadi

Global tech giant Microsoft has made a significant investment in Pune, one of India's leading IT hubs, by acquiring a land parcel worth ₹519.72 crore, according to information from Square Yards. The acquisition marks another major step in Microsoft's expansion within India's commercial real estate sector, following a series of similar deals in recent years. As per the registration document reviewed by Square Yards, Microsoft Corporation (India) Private Limited secured 66,414.5 square meters (approximately 16.4 acres) of prime land in Pune's Hinjewadi IT Park. The transaction, completed in August 2024, involved the purchase of the land from Indo Global Infotech City LLP. The deal included a stamp duty payment of ₹31.18 crore and a registration fee of ₹30,000. This acquisition follows Microsoft's 2022 purchase of a 25-acre plot in Pimpri-Chinchwad for ₹328 crore and the acquisition of 48 acres in Hyderabad earlier this year for ₹267 crore. These investments reflect Microsoft's strategic efforts to bolster its data centre operations and establish a stronger presence in India's rapidly growing digital infrastructure sector. Microsoft currently operates data centres in key markets, including Pune, Mumbai, and Chennai. The company's Indian workforce, which exceeds 23,000 employees across Bengaluru, Chennai, Hyderabad, Mumbai, and Pune, supports a wide range of business functions, including sales, marketing, research, development, and customer support. In addition to its real estate investments, Microsoft has also launched a major upskilling initiative in India. In early 2024, the company introduced "ADVANTA(I)GE INDIA," a program aimed at equipping 2 million people with AI and digital skills by 2025 as part of its global "Skills for Jobs" initiative. This latest land acquisition further underscores Microsoft's commitment to deepening its roots in India and supporting the country's digital growth. SHARE Copy linkEmailFacebookTwitterTelegramLinkedInWhatsAppRedditPublished on September 11, 2024

Microsoft Acquires Rs 520 Crore Land Parcel At Hinjewadi in Pune - News18

Global tech giant Microsoft has made a significant investment of Rs 519.72 crore in Pune, one of India's prominent IT hubs, according to Square Yards. In recent years, Microsoft's investments in India's commercial real estate sector have increased, spanning data centres, development centres, and flexible office spaces. As per the registration document reviewed by Square Yards, Microsoft's Indian arm, Microsoft Corporation (India) Private Limited, acquired 66,414.5 square meters (16.4 acres) of prime land in Pune's Hinjewadi. The transaction, registered in August 2024, involved the purchase of land from Indo Global Infotech City LLP. The deal incurred a stamp duty of Rs. 31.18 crore and a registration fee of Rs. 30,000. In 2022, the company also acquired a 25-acre plot in Pimpri-Chinchwad for Rs. 328 crore. Earlier this year, Microsoft secured 48 acres of land in Hyderabad for Rs. 267 crore. Both deals are part of Microsoft's broader strategy to expand to expand its presence in India, particularly within its data centre operations. The company's network of data centres already includes locations in Pune, Mumbai, and Chennai, solidifying its presence across key markets. Currently, the company's workforce in India includes over 23,000 employees across cities such as Bengaluru, Chennai, Hyderabad, Mumbai, and Pune. These teams support various business functions, including sales, marketing, research, development, and customer support. Additionally, in early 2024, Microsoft launched a major skilling initiative in India, aiming to equip 2 million individuals with AI and digital skills by 2025. The program, known as ADVANTA(I)GE INDIA, is part of the company's "Skills for Jobs" initiative designed to foster a future-ready workforce.

Microsoft Acquires Rs.~520 Crore Land Parcel in Pune's Hinjewadi: Square Yards

Global tech giant Microsoft has made a significant investment of Rs. 519.72 crore in Pune, one of India's prominent IT hubs, according to Square Yards. In the recent years, Microsoft's investments in India's commercial real estate sector have increased, spanning data centers, development centers, and flexible office spaces. As per the registration document reviewed by Square Yards, Microsoft's Indian arm, Microsoft Corporation (India) Private Limited, acquired 66,414.5 square meters (~16.4 acres) of prime land in Pune's Hinjewadi. The transaction, registered in August 2024, involved the purchase of land from Indo Global Infotech City LLP. The deal incurred a stamp duty of Rs. 31.18 crore and a registration fee of Rs. 30,000. In 2022, the company also acquired a 25-acre plot in Pimpri-Chinchwad for Rs. 328 crore. Earlier this year, Microsoft secured 48 acres of land in Hyderabad for Rs. 267 crore. Both deals are part of Microsoft's broader strategy to expand to expand its presence in India, particularly within its data centre operations. The company's network of data centres already includes locations in Pune, Mumbai, and Chennai, solidifying its presence across key markets. Currently, the company's workforce in India includes over 23,000 employees across cities such as Bengaluru, Chennai, Hyderabad, Mumbai, and Pune. These teams support various business functions, including sales, marketing, research, development, and customer support. Additionally, in early 2024, Microsoft launched a major skilling initiative in India, aiming to equip 2 million individuals with AI and digital skills by 2025. The program, known as ADVANTA(I)GE INDIA, is part of the company's "Skills for Jobs" initiative designed to foster a future-ready workforce.

Microsoft acquires 16.4-acre land in Pune for ₹520 crore

Microsoft Corp's Indian arm has acquired 16.4 acres of land in Pune for around ₹520 crore, documents showed. The land, located at Hinjewadi, was acquired from Indo Global Infotech City, according to registration documents provided by Square Yards. The company paid stamp duty of ₹31.2 crore on the transaction. The Redmond-based software giant has been investing considerably in India's commercial real estate. Earlier this year it acquired 48 acres of land in Hyderabad for ₹267 crore, while in 2022 it had acquired a 25-acre plot in Pimpri-Chinchwad for ₹328 crore. Both land acquisitions were for data centers. It already has data centres in Pune, Mumbai, and Chennai. According to its website, it employs around 90 people in its data centres in Hyderabad and Pune. The company employs over 23,000 people across cities such as Bengaluru, Chennai, Hyderabad, Mumbai, and Pune. These teams support various business functions, including sales, marketing, research, development and customer support. In February Microsoft's chairman and CEO Satya Nadella had stressed on the significant role that Indian developers were playing in innovations in artificial intelligence. India has a massive presence on Microsoft-owned collaborative platform GitHub. SHARE Copy linkEmailFacebookTwitterTelegramLinkedInWhatsAppRedditPublished on September 11, 2024

Microsoft expands footprint in India with 16.4-acre land acquisition in Pune

Mumbai: The American technology giant Microsoft has made another significant land purchase in Pune, further solidifying its presence in the country and particularly in Maharashtra. The company's latest acquisition, a 16.4-acre plot in Hinjewadi, was secured for ₹519.72 crore from Indo Global Infotech City. Microsoft's Indian subsidiary, Microsoft Corporation (India) Private Limited, finalised the deal on 20 August, paying a stamp duty of ₹31.18 crore and a registration fee of ₹30,000. The transaction was officially registered with the state on 6 September, according to documentation from Square Yards, a data analytics-backed real estate and mortgage portal. The sellers, Indo Global Infotech City, is a partnership firm led by Reena Sanjiv Aurora, Radhika Manoj Hingorani, Sanjiv Chamanlal Aurora, Manoj Nawalraj Hingorani and Harish Manoj Hingorani, as reported by Zauba Corp, a business information platform. Hinjewadi, a suburb of Pune, has become a hub for technology companies and business parks. The area's transformation from a quiet outskirt began in the late 1990s, driven primarily by the IT boom. Today, it bustles with young professionals working in IT and business parks, surrounded by upscale eateries, lounges, apparel stores, malls and multiplexes. This purchase comes less than two years after Microsoft's acquisition of a 25-acre plot in Pune's Pimpri Chinchwad suburb for ₹328 crore in October 2022. Earlier this year, the company also invested ₹267 crore in a 48-acre land parcel in Hyderabad. Microsoft currently maintains a presence in 10 Indian cities, including Mumbai, Pune, Hyderabad, Bengaluru, Chennai, Ahmedabad, Gurugram, New Delhi, Noida and Kolkata. The company reports employing over 23,000 individuals across these locations, engaged in sales, marketing, research, development, customer services and support. Outside of its American headquarters in Redmond, Washington, Microsoft's largest software development centre is located in Hyderabad, known as the Microsoft India Development Center. During a visit to Mumbai in February, Microsoft chairman and chief executive officer Satya Nadella announced a skilling initiative aimed at training two million individuals in AI skills by 2025. The programme, called ADVANTA(I)GE INDIA, will focus on training people in tier 2 and 3 cities as well as rural areas.