New Delhi: Realty major DLF has acquired 25 acres of land in Hyderabad for Rs 452 crore in an auction sale. The purchased property will be used to build up IT Park in the region.

According to a company representative, DLF is looking for authorization for converting the land into special economic zone (SEZ). The land is in the center of IT passageway of the city. The company has already paid 30% of the amount to the state authority.

The company already possesses about 40 acres of land in Hyderabad, where it is projecting to prepare an IT specific SEZ. The company is aggressively acquiring land all through the state for saleable plus housing development. The company owns up more than 10,250 acres of land with the growth right of 574 million sq ft.

The company source said that DLF has land reserves of 25 acre in Sonepat, 265 acre in Indore, 242 acre in Bangalore, 5,269 acre in National Capital Region of Delhi, 2,331 acre in Kolkata, 113 acre in Chennai, 22 acre in Mumbai, 385 acre in Pune, 433 acre in Chandigarh, 153 acre in Nagpur and 524 acre in Goa. In addition, it has 200 acre in Lucknow, 102 acre in Shimla, 54 acre in Bhubaneshwar.

As management has acquired a moderate tax policy in SEZ, the company is planning several SEZs in the country. DLF has already got sanctions from Government’s approval board for two IT specific SEZs in Gurgaon, one each in Hyderabad and Pune.

DLF has also received a concluding notice for their SEZ in Chennai. As well, it has got in principle authorizations regarding their IT specific SEZ in Delhi and Bhubaneshwar.