TGIIC garners Rs 3,135 crore through auction of plots at Raidurg

The Telangana State Industrial Infrastructure Corporation earned Rs 3,135 crore from auctioning two prime land parcels in Raidurg. The 7.67-acre and 11-acre plots fetched record prices due to their strategic location near HITEC City and Gachibowli

Hyderabad: The Telangana State Industrial Infrastructure Corporation (TGIIC) garnered Rs 3,135 crore through auction of two plots at Raidurg on Monday. This includes the tentative revenue generated through registration fee, stamp duty and other charges.

Auction was conducted for two plots of 11 acres and 7.67 acres at Raidurg. The 11-acre plot fetched Rs 1,556.5 crore at Rs 141.5 crore per acre and five bidders participated in the auction.

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Earlier in the day, the first auction for 7.67-acre plot generated Rs 1,358 crore at Rs 177 crore per acre. Twelve bidders participated in the auction.

The strategic location within Hyderabad Knowledge City, coupled with connectivity to HITEC City and Gachibowli, has positioned these two plots as benchmarking real estate for marquee commercial developments.

TGIIC Vice Chairman & Managing Director K Shashanka appreciated all the bidders for their enthusiastic participation and for placing their trust in Telangana’s dynamic growth narrative. He also commended the efforts of TGIIC, JLL and MSTC in conducting the auction successfully and transparently.