Raidurg land auction set to break ₹200 crore mark
HYDERABAD: After a record-breaking sale of land for ₹177 crore per acre in Hyderabad’s booming Raidurg real estate hub, the Telangana Industrial Infrastructure Corporation (TGIIC) is preparing for another major auction.
TGIIC to auction two prime plots near Knowledge City on November 10
Officials said two prime plots measuring 4,700 square yards (0.97 acre) in Panmaktha near Knowledge City will go under the hammer on November 10. The reserve price has been fixed at ₹145 crore, translating to ₹3.10 lakh per square yard.
Officials expect strong bids from IT firms and investors
Given the location’s proximity to IT corridors, officials expect intense competition from technology companies, corporate houses, and investors. Real estate circles estimate bids could touch ₹200 crore, setting a new benchmark for Hyderabad property prices.
TGIIC has already issued a notification for the auction of plots numbered 14A/1 and 14B/1 in Survey No. 83/1 of Panmaktha, under Serilingampally mandal. Bidders must register and pay the earnest money deposit (EMD) of ₹1 crore, along with document fees, by November 4. A pre-bid meeting will be held on October 22 at T-Hub.
Officials said the e-auction would be conducted online on November 10. The upset price for the plots is ₹146.26 crore, with increments of ₹10,000 per square yard for competing bids.
Earlier this month, in a similar auction, land in Raidurg fetched ₹177 crore per acre when MSN Realty purchased 7.67 acres for ₹1,357 crore—far above the earlier upset price of ₹104 crore per acre.
Encouraged by such high-value deals, TGIIC is also planning to auction about 10 more acres in Raidurg soon. Of the 470 acres owned by the corporation in the area, 200 acres have already been sold over the past decade, while about 50 acres remain under legal dispute. If the proposed auctions go through, the state government is expected to earn between ₹2,500 crore and ₹3,000 crore in revenue.
