Following are some important facts on the eight franchises of the Indian Premier League (IPL) Twenty20, which gets underway on April 18.

The designated city players will get 15 per cent over the side's highest paid player. The teams have been sold for a 10-year period.

MUMBAI (titled Mumbai Indians)

Situated in western India and is the country's financial capital. Owned by Reliance Industries Ltd, India's most valuable company

Bought for $111.9 million

Three most expensive picks at auction: Sanath Jayasuriya (Sri Lanka, $975,000), Harbhajan Singh (India, $850,000) and Robin Uthappa (India, $800,000)

BANGALORE (titled Royal Challengers)

Situated in southern India and is the country's IT capital. Owned by United Breweries Ltd

Bought for $111.6 million

Three most expensive picks: Jacques Kallis (South Africa, $900,000), Anil Kumble (India, $500,000) and Cameron White (Australia, $500,000)

KOLKATA (titled Kolkata Knight Riders)

Situated in eastern India. Owned by a consortium that includes Bollywood star Shah Rukh Khan.

Bought for $75.09 million

Three most expensive picks: Ishant Sharma (India, $950,000), Chris Gayle (West Indies, $800,000) and Brendon McCullum (New Zealand, $700,000)

DELHI (titled Delhi Daredevils)

Situated in northern India and is the country's capital. Owned by infrastructure company GMR Holdings.

Bought for $84 million

Three most expensive picks: Gautam Gambhir (India, $725,000), Manoj Tiwary (India, $675,000) and Mohammad Asif (Pakistan, $650,000)

MOHALI (titled Kings XI Punjab)

Situated in northern India. Owned by a consortium that includes Bollywood actress Preity Zinta.

Bought for $76 million

Three most expensive picks: Irfan Pathan (India, $925,000), Brett Lee (Australia, $900,000) and Kumar Sangakkara (Sri Lanka, $700,000)

HYDERABAD (titled Deccan Chargers)

Situated in southern India. Owned by media group Deccan Chronicle.

Bought for $107.01 million

Three most expensive picks: Andrew Symonds (Australia, $1.35m), RP Singh (India, $875,000) and Rohit Sharma (India, $750,000)

CHENNAI (titled Chennai Super Kings)

Situated in southern India. Owned by India Cements.

Bought for $91 million

Three most expensive picks: Mahendra Dhoni (India, $1.5m), Jacob Oram (New Zealand, $675,000) and Albie Morkel (South Africa, $675,000).

JAIPUR (titled Rajasthan Royals)

Situated in northern India. Owned by UK-based company Emerging Media.

Bought for $67 million

Three most expensive picks: Mohammad Kaif (India, $675,000), Graeme Smith (South Africa, $475,000) and Yusuf Pathan (India, $475,000).