Microsoft Acquires Land in Pune for Data Center Expansion
By Rediff Money Desk, New Delhi Sep 11, 2024 17:03
Microsoft has purchased 16.4 acres of land in Pune for Rs 520 crore to expand its data center operations in India. The acquisition is part of the company's strategy to strengthen its presence in key markets across the country.
New Delhi, Sep 11 (PTI) Global tech giant Microsoft has bought 16.4 acres of land in Pune for Rs 520 crore, according to real estate consultant Square Yards.
"As per the registration document reviewed by Square Yards, Microsoft's Indian arm, Microsoft Corporation (India) Pvt Ltd, acquired 66,414.5 square meters (around 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 consultant said in a statement.
The deal incurred a stamp duty of Rs 31.18 crore and a registration fee of Rs 30,000, it added.
Microsoft did not share any comment on this deal.
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 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.
"As per the registration document reviewed by Square Yards, Microsoft's Indian arm, Microsoft Corporation (India) Pvt Ltd, acquired 66,414.5 square meters (around 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 consultant said in a statement.
The deal incurred a stamp duty of Rs 31.18 crore and a registration fee of Rs 30,000, it added.
Microsoft did not share any comment on this deal.
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 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.
Source: PTI
Read More On:
DISCLAIMER - This article is from a syndicated feed. The original source is responsible for accuracy, views & content ownership. Views expressed may not reflect those of rediff.com India Limited.
You May Like To Read
TODAY'S MOST TRADED COMPANIES
- Company Name
- Price
- Volume
- Srestha Finvest
- 0.93 (+ 4.49)
- 32106352
- Alstone Textiles
- 0.81 (+ 6.58)
- 11966371
- AvanceTechnologies
- 0.86 ( -4.44)
- 11160659
- Jaiprakash Power Ven
- 22.68 ( -0.92)
- 10782799
- Vodafone Idea L
- 9.16 ( -1.72)
- 10515703
MORE NEWS
Sensex, Nifty Fall in Early Trade: Market...
Indian stock markets opened lower on Friday, with Sensex and Nifty falling amid global...
Rupee Rises 2 Paise to 83.96 Against US Dollar...
The Indian rupee rose 2 paise to 83.96 against the US dollar in early trade on Friday,...
South Korea Cuts Rates to Boost Economy - AP News
South Korea's central bank lowered its key interest rate by a quarter percentage point...