TGIIC e-auction draws Rs 51.25 cr bid at Osman Nagar
The Telangana State Industrial Infrastructure Corporation (TGIIC) e-auction at Osman Nagar saw unprecedented bidding, with plots fetching up to 30% above reserve prices. Plot No 1 achieved Rs 51.25 crore, while Plot No 6 secured Rs 44 crore.
Hyderabad: The TGIIC e-auction at Osman Nagar evoked strong response from bidders. Plot No 1, admeasuring 10.09 acres, achieved Rs 51.25 crore per acre, while Plot No 6, admeasuring 5.72 acres also bid for Rs 44 crore per acre.
The bids were 30 percent higher than the reserve price of Rs 39 crore per acre set for each plot by TGIIC. The auction achieved an average realisation of Rs 48.6 crore per acre, officials said.
The auction witnessed aggressive competition driven by Osman Nagar’s strategic location near the Outer Ring Road (ORR), Neopolis, Financial District, and key IT hubs. The multi-use zoning of the land parcels further enhanced their appeal, enabling a diverse mix of residential and integrated developments in a rapidly appreciating micro-market.
TGIIC VC&MD K Shashanka in a press release said this result was a direct reflection of the confidence investors have in Hyderabad’s trajectory and in a government that has consistently delivered on its promises.
