Divi's Labs founder's daughter buys two properties in Hyderabad worth ₹80 crore - Hindustan Times
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Divi's Labs founder's daughter buys two properties in Hyderabad worth 80 crore

ByMehul R Thakkar
May 23, 2024 05:33 PM IST

The two properties bought by Divi's Labs founder's daughter are located in Hyderabad's posh Jubilee Hills area and cost ₹40 crore each

Divi's Labs founder's daughter, Nilima Prasad Divi, has purchased two properties worth 80 crore in Hyderabad's posh Jubilee Hills area, according to documents accessed by Zapkey.

Divi's Labs founder's daughter, Nilima Prasad Divi, has purchased two properties worth <span class='webrupee'>₹</span>80 crore in Hyderabad's posh Jubilee Hills area (Representational photo)(Unsplash)
Divi's Labs founder's daughter, Nilima Prasad Divi, has purchased two properties worth 80 crore in Hyderabad's posh Jubilee Hills area (Representational photo)(Unsplash)

Pharma company Divi's Laboratories was founded by Murali Divi and was incorporated in 1990. It is a producer of active pharmaceutical ingredients and intermediates, headquartered in Hyderabad.

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The two properties cost 40 crore each, taking the total cost to 80 crore, according to the documents.

Also Read: Godrej Properties acquires a 12.5-acre land parcel in Hyderabad; eyes revenue potential of 3500 crore

The transaction was registered on May 2, 2024. Areas like Jubilee Hills, Banjara Hills are among the most expensive areas in Hyderabad.

A query has been sent to Nilima Prasad Divi.

In March 2023, owner of business conglomerate GVK Group, had sold two properties spread across an area of 2,812 sq yards for 73.81 crore in Hyderabad, deed of sale documents had showed.

Also Read: Hyderabad real estate market: 5,411 residential properties worth 3279 crore registered in Jan 2024

In Hyderabad, as many as 26,027 property registrations were reported in the first four months of 2024, with a total value of 16,190 crore, which is a 15% year-on-year (YoY) increase in the number of registrations and a 40% YoY increase in the total value compared to the same period last year, according to Knight Frank India, a real estate consultancy firm.

As many as 56% of the properties sold in Hyderabad were in the below 50 lakh range, almost 27% of properties were priced between 50 lakh and 1 crore range and 17% properties in the above 1 crore price bracket.

Also Read: Microsoft buys 48-acre land parcel in Hyderabad in a transaction estimated to be worth 267 crore

 

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