Hyderabad's real estate market has reached a new peak with a recent land auction in Raidurg, amassing a record ₹3,135 crore. The Telangana government, through the Telangana State Industrial Infrastructure Corporation (TGIIC), conducted the e-auction for two land parcels situated in Raidurg, within Hyderabad Knowledge City. The auction drew significant participation from both national and regional developers.
The first parcel, measuring 7.67 acres, was auctioned for ₹1,358 crore, translating to approximately ₹177 crore per acre. MSN Realty won the first auction, far exceeding the upset price of Rs 101 crore per acre. Twelve bidders participated in the auction for the first parcel. The second parcel, an 11-acre plot, fetched ₹1,556.5 crore, with a winning bid of ₹141.5 crore per acre. Five bidders participated in the auction for the 11-acre plot.
The state government anticipates additional revenue through registration fees and stamp duties, contributing to the total estimated revenue of ₹3,135 crore. JLL India and MSTC Limited, a Government of India enterprise, acted as TGIIC's exclusive transaction advisor, managing the process.
These land parcels are strategically located near HITEC City and Gachibowli, some of Hyderabad's most sought-after commercial zones. This location positions the plots as prime real estate for significant commercial developments.
K Shashanka, Vice Chairman and Managing Director of TGIIC, stated that the record price demonstrates strong investor confidence in Hyderabad's long-term potential and Telangana's growth. He also acknowledged the efforts of TGIIC, JLL and MSTC in conducting the auction successfully and transparently. The Telangana government has credited the success to its transparent and investor-friendly approach. The government has highlighted the leadership of Chief Minister A. Revanth Reddy and Industries Minister D Sridhar Babu for shaping policies that attract large-scale investments into the state.
The auction signifies a major milestone in Telangana's rising land values. In 2017, Raidurg parcels sold for ₹42.59 crore per acre; in 2022, Neopolis Kokapet reached ₹100.75 crore per acre; and now, Raidurg has seen a four-fold increase, reaching ₹177 crore per acre. Knowledge City is emerging as a major growth hub after Hitec City, Madhapur, Gachibowli, Kokapet and the Financial District.
In a separate auction by the Telangana Housing Board (THB), record prices were also seen for residential plots in Chintal, Quthbullapur. A 513-sq. yd (high-income group) HIG plot with an upset price of Rs 80,000 per sq. yd sold for Rs 1.14 lakh per sq. yd, while a 389-sq. yd plot fetched Rs 1 lakh per sq. yd. A total of 18 open plots and four flats were auctioned, generating Rs 44.24 crore in revenue from 27 bidders. The average price per sq. yd stood at Rs 91,947. Officials noted strong demand for residential land across Hyderabad, with premium plots outside Gachibowli now also crossing Rs 1 lakh per sq. yd.
