International tech giant Microsoft has set the stage for its business expansion in Hyderabad. As part of this, the company has purchased 25 acres of land in the Greater Hyderabad area. According to the Propstock report, the land was bought from well-known pharmaceutical companies Natco Pharma and Time-Cap Pharma Labs, located in Nandigama village of Rangareddy district. It has been revealed that Microsoft paid Rs 181.25 crore for the land purchase. The land was acquired under the name Microsoft Corporation (India) Private Limited.
The transactions related to Microsoft’s purchase of 25 acres of land in Nandigama took place in September of this year, but the news has come to light recently. It is known that Microsoft paid Rs 9.96 crore as stamp duty, Rs 3.62 crore in registration charges, and Rs 18 lakh in other fees, in addition to the land price. Microsoft acquired this land as part of its efforts to expand its data centre business in Hyderabad. Recently, Microsoft has been expanding its operations in India. In May of this year, it purchased 48 acres in Hyderabad for Rs 267 crore. Prior to that, it bought 25 acres in the Pimpri-Chinchwad area of Maharashtra for Rs 328 crore.
According to sources, after Pune, Mumbai, and Chennai, Microsoft has chosen Hyderabad for its data centre. However, there has been no official announcement from Microsoft regarding the land purchase in Nandigama. At the same time, Natco Pharma clarified that land and building sales are not part of their operational assets and that this transaction will not impact their business operations. The company stated that, according to its regulations, the agreement does not involve transferring any significant part of the undertaking or its operations. No announcement has been made by Time-Cap Pharma Labs either.
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