TGIIC earns record-breaking Rs 177 crore per acre from Raidurg land sale

The Telangana Industrial Infrastructure Corporation (TGIIC) land auction at Raidurg in Hyderabad Knowledge City fetched a record Rs 177 crore per acre, generating Rs 1,357.59 crore in total. The bid surpassed the previous benchmark set at Neopolis, Kokapet

Hyderabad: The Telangana Industrial Infrastructure Corporation (TGIIC) auction of 7.67 acres of land at Raidurg in Hyderabad Knowledge City fetched a record-breaking bid of Rs 177 crore per acre.

The land auction brought a total of Rs 1,357.59 crore to the TGIIC. This bid surpassed the earlier Neopolis, Kokapet benchmark of Rs 100.75 crore per acre for 3.60 acres achieved in auctions conducted by the Hyderabad Metropolitan Development Authority (HMDA).

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Interestingly, the auction was conducted for two plots,  plot no. 19 covering 11 acres and plot no. 15A/2 covering 7.67 acres at Raidurg in Hyderabad Knowledge City. The TGIIC shared the bid details of one plot covering 7.67 acres, while details of the other plot of 11 acres were yet to be announced.

Officials said the Raidurg plot auction drew participation from leading national and regional developers. The auction was managed by JLL India and MSTC as the auction partners, which acted as the exclusive transaction advisors to TGIIC.

“The record price of Rs 177 crore per acre reflects the strong confidence that investors and developers have in Hyderabad’s long-term potential and the Telangana Rising-2047 story,” TGIIC Vice Chairman and Managing Director K Shashanka said, adding that the result at Raidurg further strengthened Hyderabad’s position as one of India’s most attractive and competitive investment destinations.