HYDERABAD: The Telangana State Industrial Infrastructure Corporation (TGIIC) has notified the auction of 18.67 acres at Raidurg’s Knowledge City layout on October 6. The upset price has been fixed at a whopping Rs 101 crore per acre.
TGIIC expected the auction to generate between Rs 2,500 crore and Rs 3,000 crore for the state exchequer.
In its notification, the TGIIC said that the auction would be held for two multi-zone plots, one measuring 11 acres (53,243.50 sq. yd.) and the other 7.67 acres (37,153.67 sq. yd.) in Survey No. 83/1, Knowledge City layout. The auction will be conducted through MSTC Limited, a Government of India enterprise, with bids accepted until October 1. A pre-bid meeting is scheduled for September 10 at T-Hub, Raidurg.
The Hyderabad Metropolitan Development Authority (HMDA) has fixed the upset reserve price at Rs 101 crore per acre, with an incremental bid of Rs 50 lakh per acre or in multiples thereof.
Officials said the plots are suitable for high-rise development with unlimited Floor Space Index (FSI). The location is connected to the city through the Outer Ring Road and other major roads and is in proximity to social and commercial infrastructure.
The government has projected the land as an opportunity for corporates, IT firms, real estate developers and multinationals to secure clear-titled land for projects. The plots come with encumbrance-free ownership, a multi-purpose use zone, and access to single-window fast-track approvals.
Knowledge City has emerged as another growth centre alongside Hitech City, Madhapur, Gachibowli, Kokapet, Financial District and Nanakramguda.