Hyderabad: The TGIIC Raidurg auction generated a combined Rs 2,833.22 crore from 10.63 acres after the latest 5.38-acre plot fetched Rs 1,447.22 crore. The Telangana Industrial Infrastructure Corporation auctioned Plot P2 at Rs 269 crore per acre.
The latest auction followed the sale of Plot P1 a week earlier. Plot P1 had fetched Rs 264 crore per acre and generated Rs 1,386 crore, according to TGIIC. Moreover, TGIIC said it had already received 25% of the Plot P1 auction value as the first-stage payment.
Together, the two plots achieved an average realisation of about Rs 266.53 crore per acre. TGIIC said the auction outcome represented a premium of about 52.3% over the reserve price.
TGIIC Raidurg auction sees over Rs 260 crore per acre
Both auctions achieved prices exceeding Rs 260 crore per acre within a week. TGIIC said the results indicated sustained investor demand for strategically located land in the Raidurg corridor.
The corporation attributed the price discovery to developer confidence in Hyderabad’s long-term growth prospects. It also cited the city’s expanding business ecosystem and infrastructure connectivity as factors supporting investor interest.
Additionally, TGIIC said Hyderabad’s growing position as a business and investment destination contributed to demand. The corporation said the results further strengthened Hyderabad’s standing in India’s real estate market.
TGIIC Vice Chairman and Managing Director K. Shashanka described the latest result as an endorsement of investor confidence in Hyderabad and Telangana.
“Today’s auction is a strong endorsement of investor confidence in Hyderabad and Telangana,” Shashanka said. He also described Raidurg as a premier business and investment destination.
TGIIC Raidurg auction conducted through MSTC platform
Shashanka said the prices demonstrated strong demand for strategically located land. He attributed the outcome to transparent and competitive price discovery. According to him, the result also reflected the State government’s investor-friendly policies and continued infrastructure development.
The TGIIC Raidurg auction was conducted through the MSTC e-Auction platform. JLL served as the exclusive transaction adviser for the auctions. It supported TGIIC in market positioning, investor engagement and competitive price discovery, according to the corporation.
TGIIC described the combined Rs 2,833.22-crore outcome as part of Telangana’s strategic land monetisation efforts. The two auctions together covered 10.63 acres and realised an average of approximately Rs 266.53 crore per acre.
Plot P2 alone accounted for Rs 1,447.22 crore from 5.38 acres, while Plot P1 generated Rs 1,386 crore. The corporation said the auctions were aimed at unlocking value from strategically located public assets through competitive, market-driven processes.