Raidurg Land Auction Proves Soaring Land Values In Hyderabad: Bhatti
The Deputy CM said the government was allocating ₹10,000 crore annually towards urban development, and projects worth ₹20,000 crore had already been taken up, visibly transforming Hyderabad’s landscape.
Hyderabad: Deputy Chief Minister Mallu Bhatti Vikramarka said that the recent record-breaking Raidurg land auction fetching ₹177 crore per acre reflected the soaring real estate market in Hyderabad. He said 25 builders had participated in the auction, quoting bids up to ₹150 crore per acre, which proved the confidence investors have in the city’s growth. Bhatti was speaking at the 15th National Convention of Naredco held on Friday.
He said the Congress government was firmly committed to the integrated development of Hyderabad, which is fast emerging as one of India’s most livable cities. He urged builders to become partners in tourism development by promoting the state’s natural assets such as forests, waterfalls and tiger reserves.
The Deputy CM said the government was allocating ₹10,000 crore annually towards urban development, and projects worth ₹20,000 crore had already been taken up, visibly transforming Hyderabad’s landscape. Around ₹11,927 crore is being spent on sewerage and drinking water facilities, while another ₹13,704 crore worth of works are under consideration, taking the total investment to ₹25,631 crore.
Bhatti said an elevated corridor from Paradise Junction to the National Highway (Rajiv Rahadari) was under construction at a cost of ₹1,487 crore, and road widening works worth ₹3,619 crore were underway in Shamirpet. He credited Chief Minister Revanth Reddy for convincing the Union defence minister to allow the use of defence land for public projects.
Hyderabad, he said, was the only city in India offering uninterrupted 24-hour power and water supply, supported by reservoirs like Manjeera, Gandipet and the Godavari river project. The government, he added, was protecting lakes, rocky formations, and parks for future generations.
He said the ‘BuildNow’ digital platform was ensuring quick building permissions, while the shift to electric buses and tax exemptions for electric vehicles (EVs) reflected the government’s commitment to a 'Clean and Green' Hyderabad.
Bhatti said ₹11,500 crore had been allocated for constructing modern schools and hospitals were being upgraded. Appealing to Naredco members to invest CSR funds in education and healthcare, he urged them to take up projects for the middle and lower-income groups, adding that the Congress government recognised realtors as creators of wealth.
