TGIIC’s Raidurg plot auction bid for Rs.264 per acre
TGIIC’s e-auction of Plot No. P1 at Raidurg fetched a record Rs. 264 crore per acre, generating Rs 1,386 crore from 5.25 acres. The bid marked a 50.9 percent premium over the reserve price and underscored the rising demand for prime land in Hyderabad.
Hyderabad: The Telangana Industrial Infrastructure Corporation (TGIIC) e-auction of Plot No. P1 at Raidurg evoked a bid of Rs. 264 crore per acre and generated Rs.1,386 crore from the 5.25 acres of prime multi-use land plot. Plot No. P1 (5.25 acres) was auctioned against a reserve price of Rs. 175 crore per acre. However, the final bid was Rs. 264 crores per acre, registering a 50.9 percent premium over the reserve price, TGIIC officials said.
The result marks a sharp escalation in Raidurg land values. In May this year, TGIIC’s auction had fetched Rs. 237 crore per acre. The auction was conducted through the MSTC e-Auction platform with JLL serving as exclusive transaction advisor, ensuring transparency, and enabling competitive participation from leading national developers.
TGIIC Vice-Chairman and Managing Director (VC&MD) K Shashanka said, “The successful outcome of the Plot P1 auction speaks volumes about the confidence and conviction that the developer community places in Telangana.
TGIIC continues to drive Telangana’s industrial and infrastructure development through strategic land monetization, transparent allocation processes, and world-class infrastructure delivery, officials added.
