The Telangana government, through the Telangana State Industrial Infrastructure Corporation (TGIIC), on Monday made history by concluding a blockbuster land auction in Raidurg, Hyderabad Knowledge City, garnering an unprecedented Rs 3,135 crore from two prime parcels.
The total proceeds have shattered all previous land value records in the region, making it one of India's costliest land deals.
The second and larger parcel, an 11-acre plot, concluded the day by fetching a staggering Rs 1,556.5 crores at a rate of Rs141.5 crore per acre. Five bidders participated in this landmark sale.
The first parcel, a 7.67 acre plot, also set an astronomical benchmark, commanding Rs1,358 crores in total, at a per-acre valuation of Rs 177 crore. This plot saw enthusiastic participation from twelve bidders.
In addition to the immediate auction proceeds, these sales are projected to generate a substantial incidental revenue stream for the government, totaling up to Rs 3,135 crore in the form of registration fees, stamp duty, and other charges.
Strategically located within Hyderabad, Knowledge City, these plots offer seamless connectivity to HITEC City and Gachibowli, and have now emerged as benchmark real estate, destined for marquee commercial developments.
The state government said the successful sale solidifies Telangana's status as India's hottest investment magnet and Hyderabad's dominance as India's premier investment hub, attracting big capital.
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