Hyderabad: The Telangana Industrial Infrastructure Corporation (TGIIC) completed an e-auction for a land parcel in Raidurg on Thursday, with bidding reaching approximately Rs 237 crore per acre.
This price represents a 70.5 per cent increase over the established reserve price of Rs 139 crore per acre.
Rs 1,490.73 crore in total collected in bidding
The auction involved Plot No. 1A & 1/F, a 6.29-acre multi-use land parcel located within the Raidurg corridor. Total bidding across the transaction accumulated to Rs 1,490.73 crore.
The figures surpass the previous benchmark set during TGIIC's 2025 land auction, where land in the same area closed at Rs 177 crore per acre. The current transaction reflects an increase of approximately 34 per cent over that prior valuation.
The sale was managed via the MSTC e-Auction platform, with real estate services firm JLL serving as the transaction advisor.
'Auction reflects investor interest in Telangana's development'
Vice Chairman and Managing Director of TGIIC, K Shashanka, IAS, stated that the auction results reflect investor interest in Telangana's development ecosystem. He acknowledged the administrative support of Chief Minister A Revanth Reddy and Minister for Industries and Commerce D Sridhar Babu in maintaining the state's regulatory framework.
"The phenomenal response to the Raidurg e-auction is a reflection of the extraordinary confidence that investors and developers have in Hyderabad and Telangana. Achieving a historic price discovery of approximately Rs 237 crore per acre for this marquee multi-use land parcel marks a defining moment in the state's growth journey and demonstrates the immense strength of Telangana's investment ecosystem," Shashanka said.