Hyderabad: The Telangana Industrial Infrastructure Corporation (TGIIC) recently set a new record by selling 7.67 acres of land at Raidurg, Hyderabad Knowledge City for Rs 177 crore per acre. MSN Realty, a newcomer in real estate, purchased this plot for a staggering Rs 1,357.59 crore.
This sale achieved the highest price per acre ever seen in a government auction in Telangana, beating the previous Neopolis, Kokapet record of Rs 100.75 crore per acre for 3.60 acres from a few years ago. The Raidurg auction attracted major developers, showing strong investor confidence in Hyderabad’s growth and the strategic importance of Raidurg in the city’s Knowledge City.
JLL India & MSTC managed the auction, acting as the exclusive advisor to TGIIC. Their efforts ensured a fair and competitive bidding process, maximizing the land’s value for the state.
K Shashanka, Vice Chairman & Managing Director of TGIIC, expressed pride in the auction’s success. He highlighted that the Rs 177 crore per acre price showcases the trust investors have in Hyderabad’s future and aligns with the Telangana Rising-2047 vision led by Chief Minister A Revanth Reddy. This event is a notable achievement in Telangana’s ongoing rise in land value. In 2017, land in Raidurg sold for Rs 42.59 crore per acre, and in 2022, a Neopolis plot in Kokapet reached Rs 100.75 crore per acre.
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