Raidurg land fetches Rs 177 cr per acre

Hyderabad: The Telangana Industrial Infrastructure Corporation (TGIIC) has achieved a record-breaking Rs 177 crore per acre in its latest auction of 7.67 acres at Raidurg, Hyderabad Knowledge City, setting a new benchmark for land value in the state. MSN Realty, a new entrant into the realty sector, bought the land parcel for a whopping Rs 1,357.59 crore.

This is the highest-ever price per acre realized in any government-led auction in the state, surpassing the earlier Neopolis, Kokapet benchmark of Rs 100.75 crore per acre for 3.60 acres achieved in auctions conducted by HMDA a couple of years ago.The Raidurg auction drew exceptional participation from leading national and regional developers, demonstrating strong investor faith in Hyderabad’s sustained growth, transparency in the auction process, and the strategic value of Raidurg as the heart of Hyderabad’s Knowledge City.

The auction was successfully managed by JLL India & MSTC as the auction partner, which acted as the exclusive transaction advisor to TGIIC, ensuring a transparent and competitive bidding process that maximized value realization for the state.

Speaking on the occasion, K Shashanka, Vice Chairman & Managing Director, TGIIC, said: “The overwhelming success of the Raidurg auction is a proud moment for Telangana. 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 Telangana Rising-2047 story. It also reaffirms the state government’s vision under the leadership of Chief Minister A Revanth Reddy.” The result marked the latest milestone in Telangana’s impressive trajectory of land value growth. In 2017, a land parcel in Raidurg fetched Rs 42.59 crore per acre for an extent of 2.84 acres. In 2022, a land parcel of 3.60 acres in Neopolis in Kokapet fetched Rs 100.75 crore per acre in auctions conducted by HMDA.