Hyderabad: In just one week, Telangana Industrial Infrastructure Corporation (TGIIC) achieved another landmark in its Raidurg auction, with the 5.38-acre plot auction generating Rs 1,447.22 crore at Rs 269 crore per acre.
On August 21, the previous such auction fetched Rs 264 crore per acre, generating Rs 1,386 crore in revenue. Twenty-five per cent of the auction value from this has already been received as the first-stage payment, a release from the state government said on Friday, August 28.
Together, the two auctions have generated Rs 2,833.22 crore from 10.63 acre, at an average realisation of Rs 266.53 crore per acre.
Achieving realisations of over Rs 260 crore per acre across two auctions within a span of just one week underscores the strength, depth and consistency of investor appetite for the Raidurg corridor, the release said.
Commenting on the occasion, the Vice Chairman and Managing Director of TGIIC, K Shashanka, said, “Today’s auction is a strong endorsement of investor confidence in Hyderabad and Telangana and the continued attractiveness of Raidurg as a premier business and investment destination. This achievement reflects the government’s proactive and investor-friendly policies, supported by sustained infrastructure development.”
The auction was conducted through the MSTC e-auction platform with JLL (Jones Lang LaSalle Incorporated) serving as exclusive transaction adviser.
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