Hyderabad: Land prices in Hyderabad’s prime IT hub of Raidurg have once again crossed the Rs 200-crore-per-acre mark, underscoring the strong demand for premium commercial real estate in the city.
The Telangana Industrial Infrastructure Corporation (TGIIC) on Monday, June 1, conducted an e-auction for a 5.09-acre parcel located in Survey No. 83/1, Plot No. P4, at Raidurg. The land was acquired by Hyderabad-based Vamsiram Builders at a bid of Rs 204 crore per acre.
The auction fetched a total of Rs 1,038.36 crore for the 5.09-acre property, representing a 46.8 per cent premium over the government’s minimum support price. Although market estimates had projected bids of up to Rs 250 crore per acre, the final price settled at Rs 204 crore per acre.
The latest auction follows another major sale in the same survey number, where Plots 1A and 1F, spanning 6.29 acres, fetched a record Rs 237 crore per acre in a recent e-auction.
Rs 2,529 cr revenue for TGIIC
Together, the two land auctions in Raidurg have generated Rs 2,529 crore in revenue for TGIIC. The average realisation across both transactions stands at Rs 222 crore per acre, which is 42 per cent higher than last year’s average price of Rs 156 crore per acre.
TGIIC Vice Chairman and Managing Director K Shashanka said the outcome reflects the developer community’s confidence in Telangana’s economic prospects and Hyderabad’s growth trajectory.
“The success of the Raidurg auction is a testament to the confidence developers have in the state’s future. These results reflect the leadership of chief minister Revanth Reddy and Industries minister D Sridhar Babu in positioning Hyderabad as a global business hub,” he said.
