Hyderabad’s Raidurg e-auction fetches Rs 2,833.22 crore from two plots : TGIIC
Hyderabad, Aug 28 (TNT): The Telangana Industrial Infrastructure Corporation (TGIIC) on Friday said it has fetched Rs 2,833.22 crore from the auction of two plots spread over 10.63 acres at Raidurg, recording an average realisation of around Rs 266.53 crore per acre.
In the latest auction held on Friday, 5.38-acre Plot P2 was sold for Rs 1,447.22 crore, translating to a realisation of Rs 269 crore per acre, the Corporation said in a release here.
The plot achieved a premium of around 52.3 per cent over the reserve price, according to TGIIC.
The latest outcome follows the auction of Plot P1 held last week, which fetched Rs 1,386 crore, or Rs 264 crore per acre.
TGIIC said 25 per cent of the auction value of Plot P1 had already been received as the first-stage payment.
The two auctions, conducted within a week, resulted in realisations of more than Rs 260 crore per acre, reflecting strong investor interest in the Raidurg corridor, the release said.
The corporation attributed the strong price discovery to confidence among leading developers in Hyderabad’s long-term growth prospects, supported by its expanding business ecosystem, infrastructure connectivity and growing stature as a business and investment destination.
Commenting on the auction, TGIIC Vice Chairman and Managing Director K Shashanka, IAS, said the outcome was a strong endorsement of investor confidence in Hyderabad and Telangana and the continued attractiveness of Raidurg as a business and investment destination.
He said the realisations demonstrated strong demand for strategically located land and the value that could be unlocked through transparent and competitive price discovery. The achievement also reflected the government’s proactive and investor-friendly policies and sustained infrastructure development, he added.
The auctions were conducted through the MSTC e-Auction platform, with JLL serving as the exclusive transaction advisor and supporting TGIIC in market positioning, investor engagement and competitive price discovery.
The combined outcome marks another significant milestone in Telangana’s strategic land monetisation efforts, creating substantial value from strategically located public assets through transparent and market-driven processes.
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