400 acres at Gachibowli to be auctioned to raise funds

Hyderabad: The state government is set to auction 400 acres of prime land at Gachibowli to raise funds for development programmes. The Telangana Industrial Infrastructure Corporation (TGIIC) has been tasked with developing a master layout for this vast land parcel, and bids have already been invited for the selection of consultants to design and auction the plots.

This will be the first major land auction conducted by the Congress-led state government since it assumed office in December 2023. The government expects to raise over Rs 20,000 crore from this auction.

According to the bid document, TGIIC plans to develop a world-class sustainable "Master Plan Layout" for the 400-acre site located at Survey No. 25(P) of Kancha Gachibowli village in Serilingampally Mandal, Rangareddy district. The land will be developed and auctioned in phases, targeting prospective buyers for monetization.

The prime land is situated in a rapidly growing IT/ITeS and residential hub in the western part of Hyderabad. It is located 7-8 km from Hitec City, 15-18 km from Panjagutta crossroads, 22 km from Secunderabad railway station, and around 33 km from the Shamshabad airport, the bid document says.

The bid document also highlights that the area, known as Cyberabad, houses key commercial districts, including the Hitec City and Financial District. These areas, collectively recognised as the Central Business District (CBD) of Hyderabad, are home to over 100 large IT/ITeS and BFSI global companies, employing nearly 10 lakh people. The recently developed Hyderabad Knowledge City at Raidurg, spanning 470 acres, adds to the vibrancy of this bustling commercial zone.