Hyderabad has witnessed an extraordinary rise in land prices, with the recent auction of two plots in the city’s Knowledge City, Raidurg, setting new records. On Monday, the Telangana government conducted the auction through Telangana State Industrial Infrastructure Corporation (TGIIC). The auction raised an estimated revenue of Rs 3,135 crore, marking one of the largest land sales in the city’s history.
Details of the Land Sale
The first plot auctioned was 7.67 acres and was sold for Rs 1,358 crore. This means the price per acre was about Rs 177 crore, an exceptionally high figure. This plot attracted 12 bidders, showing strong demand. The second plot, larger at 11 acres, saw bids starting at Rs 141.5 crore per acre. It fetched a total of Rs 1,556.5 crore, with five bidders participating. Together, the combined value of both plots amounts to approximately Rs 2,914.5 crore.
Additional Revenue for the Government
The Telangana government will also receive extra income from registration fees and stamp duty charges on these plots, increasing the total estimated revenue to about Rs 3,135 crore. These plots are located near HITEC City and Gachibowli, which are some of Hyderabad’s most important business districts, adding to their value.
Hyderabad Emerges as a Major Investment Hub
The auction results highlight Hyderabad’s growing importance as a key center for investment in India. The city is rapidly becoming a hub for business and technology. The plots in Raidurg are part of the larger Hyderabad Knowledge City project, which is expected to bring significant commercial development.
This growth is likely to improve local infrastructure and create more job opportunities, further boosting the city’s economy and real estate market.
