Raidurg land auction fetches record ₹269 crore per acre
Hyderabad's Raidurg area sets a new land auction record at ₹269 crore per acre, with TGIIC earning ₹1,447.22 crore from a 5.38-acre plot.
The Telangana Industrial Infrastructure Corporation (TGIIC) has set a new benchmark in land auctions, with a plot in Raidurg fetching ₹269 crore per acre. The 5.38-acre parcel was sold for a total of ₹1,447.22 crore, surpassing all previous records for the area.
The latest sale follows the auction of a 5.25-acre plot in the same locality last week, which had realised ₹1,386 crore, or approximately ₹264 crore per acre. Combined, the two auctions — covering 10.63 acres — have brought in ₹2,833.22 crore for the state agency.
The average realisation across both plots stood at about ₹266.53 crore per acre, reflecting a premium of roughly 52.3% over the reserve price. TGIIC officials said the strong response underscores investor confidence in Hyderabad's commercial real estate market, driven by the city's expanding business ecosystem and connectivity infrastructure.
TGIIC Vice-Chairman and Managing Director K. Shashanka noted that 25% of the auction value of the first plot has already been received as the initial payment. He credited the outcome to the state government's investor-friendly policies and sustained infrastructure development.
"The exceptional realisations achieved demonstrate the strength of demand for strategically located land and the significant value that can be unlocked through transparent and competitive price discovery," he said.
The auctions were conducted through the MSTC e-auction platform.