Microsoft acquires a 48-acre plot in Hyderabad. Here's how much it paid
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Tech giant Microsoft Corporation recently acquired 48 acres of land in Hyderabad in a transaction estimated to be worth around Rs 267 crore.
The acquisition of the property was facilitated through Sai Balaji Developers, a land aggregator situated in Ranga Reddy district, as indicated in the documentation shared by data analytics company Propstack, according to a report in The Economic Times (ET).
The report quoted a source as saying that the company is expanding its data centre operations and intends to establish one of the largest data centres in the area. The source added that the property, situated around 40 km away from Hyderabad's central hub, commanded a premium price from the company.
In 2022, Microsoft acquired three land parcels in Hyderabad for around Rs 275 crore to establish a data centre. Microsoft's Hyderabad data centre region marks a new addition to its established network of three regions in India — Pune, Mumbai, and Chennai — which have been operational for the last five years.
Currently, Microsoft operates an India Development Centre (IDC) spanning 54 acres in Hyderabad, in addition to those in Bengaluru and Noida. The IDC has been instrumental in advancing Microsoft's technological portfolio, including Azure, Windows, Office, and Bing.
In 2022, Microsoft Corporation (India) procured a commercial plot spanning 10.89 lakh sq ft in Pune from Finolex Industries for a total sum of Rs 328.84 crore. The plot, situated at Pimpri Waghere in Pune, was obtained through a lease transfer agreement with Finolex Industries. Reports showed that the company also paid a stamp duty of Rs 16.44 crore for the transaction.
In 2021, the Noida Authority allocated a plot covering more than 60,000 sq m to Microsoft India (R&D) Private Limited in Sector 145 at a premium of Rs 103.66 crore. The Noida Authority had said that the tech giant would be given five years to complete the project.
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