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    Land auction in Hyderabad shatters all records, fetches ₹177 crore per acre

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    By Jll India

    Copyright thehindu

    Land auction in Hyderabad shatters all records, fetches ₹177 crore per acre

    Setting a new benchmark for land value in Telangana, the Telangana Industrial Infrastructure Corporation (TGIIC) has received a a record-breaking bid of ₹177 crore per acre in its auction of 7.67 acres at Raidurg, Hyderabad Knowledge City.

    This is the highest-ever price per acre realised in any government-led auction in the State fetching ₹1,357.59 crores shattering all historic records. This also surpassed the earlier Neopolis, Kokapet benchmark of ₹100.75 crore per acre for 3.60 acres achieved in auctions conducted by the HMDA during the BRS regime.

    The auction was successfully managed by JLL India & MSTC as the auction partner, which acted as the exclusive transaction advisor to TGIIC.

    The Raidurg auction drew participation from leading national and regional developers, demonstrating strong investor faith in Hyderabad’s sustained growth and the strategic value of Raidurg as the heart of Hyderabad’s Knowledge City, said the Chief Minister’s Office (CMO) reflecting the robust policy support from the Government of Telangana.

    “The record price of ₹177 crore per acre reflects the strong confidence that investors and developers have in Hyderabad’s long-term potential and Telangana Rising-2047 story,” VC and Managing Director of TGIIC K. Shashanka said.

    “It also reaffirms the Chief Minister A. Revanth Reddy and Minister for Industries D. Sridhar Babu’s efforts to create a transparent, business-friendly, and high-growth ecosystem strengthening Hyderabad’s position as one of India’s most attractive investment destinations.”

    The record price marks the impressive trajectory of land value growth in Hyderabad. In 2017, Raidurg parcels fetched ₹42.59 crore per acre for an extent of 2.84 acres. In 2022, Neopolis, Kokapet auctions conducted by HMDA achieved up to ₹100.75 crore per acre for 3.60 acres.

    “Achieving ₹177 crore per acre at Raidurg, nearly 75% higher than the ₹101 crore per acre benchmark, demonstrates Hyderabad’s exceptional market strength, robust investor sentiment, and the city’s evolution into a truly global business hub,” according to a spokesperson from JLL India.