Raidurg Land Parcel Sells for Record Rs 264 Crore per Acre in TGIIC Auction

A 5.25-acre land parcel located in the Knowledge City layout at Raidurg Panmaktha, Serilingampally, fetched a record Rs 264 crore per acre during an e-auction conducted by the Telangana Industrial Infrastructure Corporation (TGIIC) on Friday.

The land parcel, measuring 25,414.32 square yards and designated as plot number P1 in Survey No. 83/1, sold for a total amount of approximately Rs 1,386 crore. The winning bid marked the highest price ever achieved in a land auction conducted by a government agency in Hyderabad.

MSN Realty emerged as the successful bidder following intense competition among prominent national-level real estate developers. The final bidding price stood nearly 51 percent above the base price set by the government agency.

The outcome surpassed the previous high of Rs 237 crore per acre recorded in an auction held within the same Knowledge City layout in May this year.

For the Friday bidding process, TGIIC had fixed a minimum upset price of Rs 175 crore per acre, setting the minimum bid increment at Rs 1 crore per acre or multiples thereof. The auction was conducted through MSTC Limited, a Government of India Enterprise, and required an Earnest Money Deposit of Rs 10 crore per plot from participants.

TGIIC Vice-Chairman and Managing Director K Shashanka stated that the successful bidding for the P1 plot demonstrated strong market confidence in the state's growth trajectory.

Shashanka noted that the result was not merely about achieving a high price for a parcel of land, but represented recognition of Telangana's development model, which emphasizes transparency, world-class infrastructure, and an investor-friendly environment. He added that the auction further highlighted Hyderabad's position as a major international business and investment destination.

Following the record-setting sale, TGIIC is preparing to auction another prime plot in the same vicinity. The upcoming parcel, identified as plot number P2 in Survey No. 83/1 at Raidurg Panmaktha, measures 5.38 acres or 26,023.78 square yards. Officials indicated that bids for the upcoming plot could also cross the Rs 264 crore per acre mark.