Overview
- TGIIC auctioned a 5.25-acre plot in Raidurg on the MSTC e-auction platform and received a final bid of ₹264 crore per acre, generating ₹1,386 crore in total.
- The winning price was 50.9 percent above the reserve of ₹175 crore per acre and tops a May sale at the same survey number that had fetched ₹237 crore per acre.
- JLL served as the exclusive transaction adviser and TGIIC said the open e-auction process helped secure competitive participation from large developers.
- Multiple press outlets reported that MSN Realty emerged as the highest bidder, but that buyer attribution has not been independently confirmed in TGIIC statements included in the coverage.
- TGIIC’s vice-chairman K. Shashanka said the result signals developer confidence and the new benchmark is likely to push up valuations for nearby government land and future auctions.