IKEA buys 10 acre land in Gurgaon for new outlet

IKEA buys 10 acres of land in Gurgaon for its outlet Rs 842 crore. The Swedish furniture group has won a bid for a 10-acre land parcel for Rs 842 crore in the heart of Gurgaon from Haryana Urban Development Authority (HUDA) where the company plans to construct one of its outlets in the NCR. A source said the state government has invited bids through e-auction on 6th of October this year and IKEA won it for a whopping Rs 842 crore for the 10 acre land on Tuesday located in the Sector 47 in the city. IKEA is investing Rs 10,500 crore in India to open 25 outlets in by 2025.