Swedish furniture and home accessories maker IKEA will buy about 50,000 sq m of land for Rs 500 crore from the Telangana Government to set up its facility.
“The firm has agreed to buy an acre of land for Rs 19.21 crore. Executives of IKEA have held discussions with the Telangana State Industrial Infrastructure Corporation in this regard. They will be allotted land in the Knowledge City at Rayadurg near here,” a Government spokesperson said here on Thursday.