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2h ago

Raidurg Auction Sets Telangana Land Record at ₹177 Crore per Acre

Officials frame the result as fresh evidence of investor confidence in Hyderabad’s Knowledge City following a professionally run TGIIC sale.

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Overview

  • The 7.67-acre parcel in Raidurg fetched ₹177 crore per acre, totaling ₹1,357.59 crore in a government-run auction.
  • The second parcel of 11 acres drew ₹141.5 crore per acre for a total of ₹1,556.5 crore, taking combined proceeds to about ₹2,914.5 crore.
  • Including registration and stamp duties, the state estimates overall receipts from the two sales at roughly ₹3,135 crore.
  • The ₹177 crore per acre price surpasses the 2022 Neopolis, Kokapet benchmark of ₹100.75 crore per acre, extending a years-long rise from ₹42.59 crore per acre in 2017.
  • JLL India and MSTC managed the auction for TGIIC, which reported 12 bidders for the 7.67-acre plot and five bidders for the 11-acre plot in Hyderabad’s IT corridor near HITEC City and Gachibowli.