Good news to Telangana's realty sector which has been on a downward spiral. Latest is that a slew of pharma companies have shown interest to dole out a whopping Rs 30,000 Crore investment in the India's 29th state. Acting swiftly on it, KCR has carried out an aerial survey in the districts of Ranga Reddy, Mahbubnagar and Nalgonda on Wednesday. The survey lasted for three hours where KCR was accompanied by pharmaceutical industry representatives, CMO officials, revenue and industries departments in order to identify suitable locations for the Pharma City.
KCR has identified 11,000 acres at Mucherla in Ranga Reddy district to set up the Pharma City. The representatives of pharma giants like Dr Reddy's, Aurobindo, Hetero etc, who accompanied KCR, have reportedly expressed satisfaction with the proposed site for the mega pharma project.
It's expected that the mega pharma project would provide employment to over 70,000 people. KCR also said that the Pharma City would be eco-friendly and have ample space to construct townships to house employees. A pharma university and a research institute would also be established in the locales. Meanwhile, KCR also surveyed the lands in Rachakonda to set up a Cinema City on 2,000 acres.