A 15-year lease has been signed by the giant software company ‘Microsoft’ in Hyderabad for 2,00,000 sq ft of premium office space at ‘Knowledge City’. Again, there are further plans by the company to take another space to extend its next phase of expansion (the sources revealed).
The developer of the project for this would be ‘Salarpuria Sattva’ who will be paid an amount of Rs 52 per sq ft for the space and the fit-out will cost the company, Rs. 8000 per sq ft. The confirmation on this is anyways not given by ‘Microsoft India’. It is believed that the people behind the deal were consultants, Cushman and Wakefield.
The IT secretary of Telangana, Jayesh Ranjan said that there would be a meeting between him and the leadership team of Microsoft to elaborately discuss on it.
As we all know that Microsoft is headquartered at Redmond. The company is basically looking for larger office space in India to fetch a market space (a rather bigger one) and also involve the engineering talents in here. The Chief Executive Satya Nadella is said to be planning this so that the right amount of market could be tapped at the right time in India. The Company is planning to expand the campus at Gachibowli, in Hyderabad. The area here is spread about 3 million sq ft, which has a built up area of 1.5 million sq ft.
Again, needed to be mentioned, Microsoft had taken a space of 600,000 sq ft in Bengaluru last year. The latest office space finalized will be the base for clubbing the Microsoft’s India operations for any further expansion in future. It is believed that Microsoft is going to invest an amount of $ 1 billion for office space in India for about 5 years.
The developer Salarpuria Sattva, has leased out nearly 5 million sq ft out of 7.5 million sq ft office space in the Project of Knowledge City. Apart from the office space projects which are about 15 million sq ft, the developer has also invested in the retail and residence projects which will be live by 2020.
More news would out after the confirmation received from Microsoft’s end.