Real Estate

Real Estate Transactions

Pharma player Hetero acquires 600 acres in Hyderabad from US fund

Economic Times  

Hyderabad-based generic pharmaceutical company Hetero Group has bought around 600 acres of land for over INR 350 crore from a US-based fund. The deal includes the pharma firm buying the entire stake in two subsidiaries that held the land from the US fund. The land is located ahead of Shamshabad airport, which commands an INR 6 lakh per acre price. The land was a part of the pre-Lehman investment made by the US fund in Indian real estate. In 2017, Hetero bought 20 acres of land from Puravankara Group for INR 475 crore in the IT belt of Raidurg. Hetero has a joint development partnership with RMZ Corp and K Raheja Group to develop commercial properties in Hyderabad, totalling 20 acres of land. CBRE was the advisor to the deal.