‪#‎MarketWatch‬ Ikea to lay foundation for first Indian store in Hyderabad on August 11 Ikea had earlier said it has purchased 13 acres of land parcel to build retail store here and the site is close to the IT hub in Hyderabad's HITEC city, and within easy access to public transport and next to an upcoming Metro line. Ikea is performing ground-breaking and laying of foundation stone for its first Indian store on August 11. After completion of the construction, the outlet is expected to open somewhere in July-August next year.