Raidurg auction sees Rs 269 crore per acre record bid

The TGIIC has raised Rs 2,833.22 crore from two successive land auctions at Raidurg, underscoring Hyderabad’s growing appeal as a business hub. Plot P2 alone fetched Rs 1,447.22 crore at Rs 269 crore per acre, surpassing last week’s record bid for Plot P1.

Hyderabad: The Telangana Industrial Infrastructure Corporation (TGIIC) auction of 5.38-acre Plot P2 at Raidurg generated Rs1,447.22 crores as the bid was quoted for Rs. 269 crores per acre.

This follows the auction of Plot P1 held last week, which achieved Rs 264 crores per acre, generating Rs 1,386 crores. Officials said 25 percent of the auction value from Plot P1 has already been received as the first stage payment. Together, the two auctions have generated Rs 2,833.22 crores from 10.63 acres, at an average realisation of Rs.266.53 crores per acre.

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The exceptional price discovery reflects strong confidence among leading developers in Hyderabad’s long-term growth prospects, supported by its expanding business ecosystem, besides robust infrastructure connectivity and growing stature as a major business and investment destination.

Commenting on the occasion, TGIIC VC & MD K Shashanka said, “Today’s auction is a strong endorsement of investor confidence in Hyderabad and Telangana and the continued attractiveness of Raidurg as a premier business and investment destination.”

The auctions were conducted through the MSTC e-Auction platform, with JLL serving as the Exclusive Transaction Advisor, supporting TGIIC through market positioning, investor engagement and competitive price discovery.