Hyderabad: Auction of land parcels conducted by the Telangana state government on Wednesday fetched huge revenues for the state exchequer. While an acre in Raidurg in different parcels fetched Rs 29.28 crore, Rs 24.88 crore, Rs 24.20 crore and Rs 22.02 crore, an acre in Manikonda fetched Rs 12.63 crore and in Kokapet Rs 6.05 crore.
What surprised the government and the real estate sector was that the prices quoted were much higher when compared to the auction conducted by APIIC in 2007-08, which is considered as the peak of the real estate boom in Hyderabad.
Officials said the latest e-auction had once again proven the supremacy of the Hyderabad realty sector among other metros in the country and dispelled the myth that the sector had taken a hit after the state was bifurcated. Telangana State Industrial and Infrastructure Corporation (TSIIC) had issued the E-tender-cum-E-auction notification on October 30.
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