HYDERABAD: The mega e-auction of prime land conducted by the Telangana Industrial Infrastructure Corporation Limited (TGIIC) in the prestigious Knowledge City layout at Raidurg Panmaktha in Serilingampally on Thursday shattered all previous records, fetching Rs 1,490.73 crore for 6.29 acres at a staggering Rs 237 crore per acre. This surpassed the auction of land at Raidurg in October 2025, in which an acre of land had fetched Rs 177 crore. The transaction marked a further increase of 34 per cent, thereby setting a new benchmark for land pricing in Hyderabad.
Gowra Ventures Private Limited, which emerged as the successful bidder, plans to develop a new IT office tower.
Another prime land parcel measuring 5.09 acres (24,672 square yards) in Survey No 83/1 in the same locality is scheduled for auction on June 1. The TGIIC has fixed an upset price of Rs 139 crore per acre, with bid increments of Rs 1 crore per acre or multiples thereof. Officials expressed confidence that the upcoming auction could also witness bids crossing Rs 235 crore per acre. They said the sustained demand for land in Raidurg underlines Hyderabad’s rise as a premier destination for IT and real estate investments.
Knowledge City has emerged as a major growth hub alongside Hitec City, Madhapur, Gachibowli, Kokapet, Financial District and Nanakramguda. The area is witnessing rapid development of commercial towers, office spaces, shopping centres and premium residential projects.
Intense competition for land in Raidurg
The high-profile auction witnessed extraordinary participation and intense competitive bidding from leading national developers, culminating in a windfall for the TGIIC.
“The phenomenal response to the Raidurg e-auction reflects the extraordinary confidence investors and developers have in Hyderabad and Telangana. Achieving a historic price discovery of approximately Rs 237 crore per acre marks a defining moment in the state’s growth journey,” TGIIC Vice Chairman and Managing Director K Shashanka said.
The auction was conducted through the MSTC e-auction platform, a Government of India enterprise, while JLL acted as the exclusive transaction advisor.
Of the 470 acres it originally owned in Raidurg, around 200 acres have already been sold over the past decade. Of the remaining 270 acres, about 50 acres are entangled in legal disputes, while the rest are being auctioned in a phased manner.
The developed plots are encumbrance-free and litigation-free, with unlimited FSI, multi-use zoning, excellent road connectivity, and readiness for immediate construction without the need for any change in land use.