Advertisement
US-based semiconductor firm Microchip Technology has acquired 1.72 lakh sq ft of office space in Whitefield,Bengaluru for INR 176 crore. The purchase, which includes two commercial blocks from Ascendum Solutions India Pvt. Ltd., marks one of the largest office space buyouts in the city this quarter. The deal, valued at approximately INR 10,230 per sq ft, underscores a growing trend of global tech companies consolidating and owning assets in India to support their long-term growth and expand their R&D footprint.
Microchip Technology India Pvt. Ltd., a subsidiary of the global semiconductor solutions provider, has acquired a prime office space in the bustling IT hub of Whitefield, Bengaluru, for INR 176 crore. The transaction, which involves the purchase of 1.72 lakh sq ft of commercial real estate, signals the company's long-term strategic commitment to the Indian market. Advertisement
The acquisition from Ascendum Solutions India Pvt. Ltd., a firm with interests in IT and real estate, includes two commercial blocks located in the EPIP Zone, Phase 2. According to documents accessed for the transaction, the two mid-sized blocks measure 92,098 sq ft and 80,395 sq ft, respectively, and each is configured with a basement, ground floor, and three upper floors.
This significant buyout, which translates to a per-square-foot rate of nearly INR 10,230, positions the deal as a premium transaction in Bengaluru's eastern office corridor. Market experts note that the acquisition highlights an emerging trend where global corporations are choosing to directly acquire fully built office assets to secure long-term control and hedge against potential rental increases.
The investment reflects Microchip's ongoing expansion of its engineering and R&D presence in India, a country that has become a critical hub for semiconductor design talent. The Whitefield area continues to be a preferred location for semiconductor and electronics firms due to its established ecosystem and strong talent pool. This deal also reinforces Bengaluru's status as a global center for high-end R&D, with sustained demand for premium office spaces from both domestic and international companies.
5th Jun, 2025
25th May, 2023
11th May, 2023
27th Apr, 2023
Advertisement
Facebook
Whatsapp
