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