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Setting a record in the real estate market in Hyderabad, an acre of government land was auctioned for a whopping Rs 177 crore.
The Telangana Industrial Infrastructure Corporation (TGIIC) in its latest auction of 7.67 acres at Raidurg, Hyderabad Knowledge City, set a new benchmark for land value in Telangana.
Officials said that this is the highest-ever price per acre realised in any government-led auction in the state, surpassing the earlier Neopolis, Kokapet benchmark of Rs 100.75 crore per acre for 3.60 acres seen in auctions conducted by Hyderabad Metropolitan Development Authority (HMDA) in 2023.
The government said the Raidurg auction drew participation from leading national and regional developers.
“The overwhelming success of the Raidurg auction is a proud moment for Telangana. The record price of Rs 177 crore per acre reflects the strong confidence that investors and developers have in Hyderabad’s long-term potential and Telangana Rising-2047 story,” said K Shashanka, VC & Managing Director, TGIIC.
He said it also reaffirms the State Government’s vision under the leadership of Chief Minister A Revanth Reddy to create a transparent, business-friendly, and high-growth ecosystem. This result at Raidurg further strengthens Hyderabad’s position as one of India’s most attractive and competitive investment destinations, he said.