Microsoft Corporation (India) Private Limited has purchased 25 acres of land for Rs 181.25 crore in Nandigama town near Amaravati in Andhra Pradesh which is around an hour’s drive from Amaravati, according to property registration documents accessed by Propstack.
The land parcel was purchased from Natco Pharma Limited and Time Cap Pharma Labs Pvt Ltd. The transaction was executed on September 11, 2024, according to the documents.
A stamp duty of Rs 9.96 crore, a registration fee of Rs 3.62 crore and other charges of over Rs 18 lakh were paid for the transaction, according to the documents.
Nandigama is around 60 km away from Amaravati in Andhra Pradesh where land rates recorded a sharp surge after Chandrababu Naidu-led Telugu Desam Party returned to power with a thumping majority in the state assembly polls in June 2024.
In August, Microsoft Corporation (India) had bought around 16 acres of land in Pune from Viva Highways for Rs 453 crore, according to Square Yards. In 2022, Microsoft Corporation (India) had acquired 10.89 lakh sq ft of commercial plot in Pune from Finolex Industries for a consolidated amount of Rs 328.84 crore. The commercial plot is located at Pimpri Waghere in Pune and has been acquired through an agreement with Finolex Industries to transfer the lease for Rs 328.84 crore, property documents showed.
Over 100 land deals spanning approximately 1,700 acres were closed across six major cities in India between January-September 2024, according to a report released by property consultancy CBRE. The land deal volume jumped 65% year-on-year compared to the 60-plus deals carried out during the same period last year, the report said.
Microsoft Corporation India has been on a land purchase spree since the last two years.
Global tech giant Microsoft had invested close to Rs 1,000 crore by acquiring over 30 acres spread across an area in Pune’s Hinjewadi, a major IT hub, property registration documents accessed by Square Yards had shown.
As per the report, Delhi-NCR-led land deal activity with an approximately 32% share, with Gurgaon accounting for the highest land deal share at around 65% and Noida/Greater Noida at about 20%. This represents an approximately 65% annual increase in the number of deals compared to the same period last year.
