Microsoft India has made a deal to purchase a 25-acre plot to develop a large hyperscale data center in Pimpri Chinchwad for Rs. 328 crores, one of the region's most high-profile real estate transactions in recent times.
The India business division of US-based software giant Microsoft has made a deal with Finolex Industries and paid more than Rs. 16 crores as stamp duty as a part of the deal.
As per the documents by Microsoft to the Maharashtra Industrial Development Corporation (MIDC) in the lease transfer process, a data center is being planned at the location.
Microsoft is one of the largest spenders in the data center business, along with Amazon Web Services (AWS) and Google. AWS, Google, and Microsoft collectively account for more than 50 percent of the world's largest data centers around the world.
"In 2021, the data center market in India was valued at 4.35 billion USD and is expected to reach 10.09 billion USD by 2027," said Raja Seetharaman, co-founder of Propstack, a real estate intelligence firm.
Pune and its twin Pimpri Chinchwad are ideal for setting up large campuses due to the availability of quality real estate, affordable housing, and human resources.
Earlier, Mastercard Technology leased more than 4 lakh square feet of space in a commercial building in Pune. The lease for 20 years has rent starting at Rs. 4.12 crore per month.
