Ikea India prepares for a business centre in Hyderabad

According to an agreement, Ikea is all set to purchase 50,000 square metres of land in Hyderabad at a cost of Rs 19.21 crore per acre.
Ikea India business centre in Hyderabad

Ikea India is setting up a business centre in the city of Hyderabad making an investment of Rs 500 crore as per the Telangana government.

A release from the Chief Minister’s office has said Ikea India will be purchasing 50,000 sq metres of land which will come to around Rs19.21 crore per acre.  

Ikea’s business centre aims to benefit small businessmen engaged in the supply of raw materials in Telangana. Also, the centre proposes to employ 500 people directly and hundreds of others indirectly. Besides, it would also give livelihood to hundreds of other people who offer related services.  

The deal for land purchase gives an idea of the land prices and real estate situation existing in the city, the release added.

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