Hyderabad: Raidurg (Knowledge City) land auctions continued to break their own records, with Friday’s auction fetching the state a staggering Rs 269 crore per acre — Rs 5 crore per acre more than the previous auction conducted last week. The winning bid went to Hyderabad-based Vamsiram Builders, which secured a 5.38-acre land parcel, adding Rs 1,447 crore to the state coffers.Telangana State Industrial Infrastructure Corporation (TGIIC) officials said the two auctions held this month collectively earned Rs 2,833 crore from 10.63 acres, at an average rate of Rs 266 crore per acre.In the land auction held on Aug 21, MSN Realty bought 5.25 acres in the same area for ₹264 crore per acre, generating about Rs 1,386 crore. The earlier highest price was ₹237 crore per acre, recorded in Knowledge City in an auction held in May 2026. TGIIC has already received the first 25% instalment from the previous auction.Govt officials said they were overwhelmed by the response to the auction, which is now being touted as the “mother of all land auctions” after achieving a 52% premium over the reserve price of Rs 175 crore per acre.“The TGIIC’s strategy to conduct two land auctions at a time instead of putting all the available land parcels up for auction at the same time helped enhance the bid amount in every auction and build confidence among companies,” said a govt official.Meanwhile, referring to Friday’s auction as a “strong endorsement of investor confidence in Hyderabad and Telangana and the continued attractiveness of Raidurg as a premier business and investment destination,” TGIIC vice-chairman and managing director K Shashanka said the “outcome further reinforces Hyderabad’s position as one of India’s most dynamic real estate markets”.“The exceptional price discovery reflects strong confidence among leading developers in Hyderabad’s long-term growth prospects, supported by its expanding business ecosystem, robust infrastructure connectivity and growing stature as a major business and investment destination,” he added.
Source link
