Raidurg Plot Sells for Rs 269 Crore an Acre

Hyderabad: Reaffirming growing interest in Hyderabad real estate, the Telangana Industrial Infrastructure Corporation (TGIIC) raised Rs 1,447.22 crore from the auction of a 5.38-acre plot at Raidurg on Friday, with Plot P2 fetching Rs 269 crore per acre.

The auction came a week after Plot P1 was sold for Rs 1,386 crore, translating to Rs 264 crore per acre. TGIIC has received 25 per cent of the auction value of Plot P1 as the first-stage payment.

Together, the two auctions have generated Rs 2,833.22 crore from 10.63 acres, at an average realisation of Rs 266.53 crore per acre. The bid amount was 52.3 per cent more than the reserve price. Vamsiram Builders bought the land parcel in Friday’s auction.

TGIIC said the realisation of more than Rs 260 crore per acre in two auctions within a week reflected investor demand for land in the Raidurg corridor and confidence among developers in Hyderabad's growth prospects. The auction achieved a 52.3 per cent premium over reserve price, with average realisation of Rs 266.53 crore per acre.

TGIIC vice-chairman and managing director K. Shashanka said the auction on Friday reflected investor confidence in Hyderabad and Telangana and the attractiveness of Raidurg as a business and investment destination. "The exceptional realisations achieved demonstrate the strength of demand for strategically located land and the significant value that can be unlocked through transparent and competitive price discovery," he said.

Shashanka said the outcome also reflected the state government's investor-friendly policies and infrastructure development.

The auctions were conducted through the MSTC e-Auction platform, with JLL serving as the exclusive transaction adviser to TGIIC for market positioning, investor engagement and competitive price discovery. TGIIC said the two auctions were part of Telangana's land monetisation efforts aimed at generating value from strategically located public assets through competitive processes.