Drug firm Micro Labs Ltd’s chairman and managing director Dilip Surana has bought a piece of land with a bungalow built on it in Bengaluru for Rs 66 crore, in what is being seen as one of the largest such deals.
The deal includes land measuring 12,043.22 sq ft with a bungalow measuring 8,373.99 sq ft at Fair Field Layout, formerly known as Race Course Road, according to the sale deed documents.
Surana has bought the property from G G Rajendra Kumar, his wife Sadhana RajendraKumar and Manu Gautam. The buyer has paid a stamp duty of over Rs 3.36 crore, according to the documents shared by CRE Matrix, a real estate data analytics firm.
Fair field Layout in a private layout in the city where the Micro Lab CMD already owns a residential property.
“The heart of the city, like Fairfield Layout off Race Course Road and Sadhashivanagar, has seen some big-ticket deals and there is no slowing of transactions in the super luxury category in Bangalore,” said Bhavesh Kothari, founder of Property First.
Bengaluru-based Micro Labs is a pharmaceutical formulations and active pharmaceutical ingredients (API) manufacturer as well as distributor. Its paracetamol brand Dolo 650 is the most prescribed brand in the country.
Micro Labs was established in Chennai in 1973 by Surana’s father GC Surana. The company has since grown into one of India’s leading healthcare organisations, which also has a strong presence in the US and Europe.