Andhra Pradesh has allotted 435 acres of land as an alternate site to IT major Infosys at Pocharam village on the outskirts of the city in lieu of the one it had allotted earlier to avoid a legal hassle.
The state government wanted to take back 100 acres of land the earlier TDP government had allotted to IMG Bharata for a sports project at Mamidipalli village but the latter refused to part with it and threatened to go to court.
According to official sources here, the government has decided to give land to Infosys at the New Singapore City and Infosys has agreed to the new venue.
The price will be Rs 12 lakh per acre, the rate at which the earlier land was offered.
In a Memorandum of Understanding signed by the Andhra Pradesh government and Infosys last year, the latter was promised 550 acres of space at Mamidipalli to expand its operations in Hyderabad.
Infosys, which already has a campus at Manikonda, plans to employ about 25,000 professionals at the new residential campus once it is completed. Infosys plans to invest Rs1,250 crore over the next 10 years in Hyderabad.