HYDERABAD: A 5.25-acre land parcel in the Knowledge City layout at Raidurg Panmaktha, Serilingampally, fetched a record Rs 264 crore per acre in the e-auction conducted by the Telangana Industrial Infrastructure Corporation (TGIIC) on Friday.
The parcel, measuring 25,414.32 square yards and identified as plot number P1 in Survey No. 83/1, fetched approximately Rs 1,386 crore in total. The final price was nearly 51% above the upset price and surpassed the Rs 237 crore per acre fetched in an auction held in the same layout in May this year.
The bid followed intense competition among prominent national-level developers, with MSN Realty emerging as the successful bidder. Officials said the price was the highest achieved in a recent land auction conducted by a government agency in Hyderabad.
TGIIC had fixed a minimum upset price of Rs 175 crore per acre, with an increment bid of Rs 1 crore per acre or a multiple thereof. The plots were put up for e-auction through MSTC Limited, a Government of India Enterprise, with an Earnest Money Deposit (EMD) of Rs 10 crore per plot.
TGIIC vice-chairman and managing director K Shashanka said the successful auction of the P1 plot reflected strong confidence in Telangana’s future. “This is not merely about achieving a high price for a parcel of land. It is recognition of Telangana’s development model, which emphasises transparency, world-class infrastructure and an investor-friendly environment,” he said, adding that the auction once again demonstrated Hyderabad’s emergence as a major international business and investment destination.
That investor interest is expected to continue with the next auction. Another prime land parcel measuring 5.38 acres (26,023.78 square yards, plot number P2) in Survey No 83/1 at Raidurg Panmaktha is scheduled to be auctioned soon. Officials said bids could cross Rs 264 crore per acre.
