Spending from the US-based fund, the Hyderabad-based renowned pharma company Hetero Group acquired 600 acres of land at a cost of Rs 350 crore. The land deal is billed as one of the biggest land deals transacted in the city in recent times. The deal includes the pharma firm buying the entire stake in two subsidiaries that held the land.
The deal has been concluded and the land is located ahead of Shamshabad airport, which commands Rs 6 lakh an acre price. It has aggregated some land in the vicinity, said a person who is aware of the deal. Hetero has been very aggressive in buying the land in Hyderabad, said another person who is aware of the firms’ plans In 2017, it bought 20 acres of land from Puravankara Group for Rs 475 Crore in IT belt of Raidurg.
In the latest land deal, it acquired 600 acres of land. Hetero has joint development partnership with RMZ Corp and K Raheza Group to develop commercial properties in Hyderabad, totalling of 20 acres of land, said one of the people quoted earlier.
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