Hyderabad Land Auctions Set New Records, Boosting Real Estate Confidence

Hyderabad: The Telangana State Industrial Infrastructure Corporation (TGIIC) has achieved a significant milestone in the real estate sector with record-breaking prices in the Raidurg Knowledge City land auctions. The auctions not only set a new benchmark for land prices in the city but also instilled confidence among developers and builders.

Some officials in the Chief Minister's Office (CMO) were keenly following the bidding process, as the Raidurg land auctions were expected to set a precedent for the real estate market in Hyderabad. The excitement turned to relief when the auctions concluded with a record-breaking price of 177 crore per acre.

Sources in TGIIC revealed that 12 top bidders vied for the 7.67-acre plot (No. 15 A/2) in Raidurg, but MSN Realty emerged as the winner, securing the land at 177 crore per acre. The closest bidder offered about 175.5 crore, highlighting the intense competition for this prime plot. The demand for the land was driven by its favorable dimensions and road width, making it an attractive investment.

Following the successful auction of the 7.67-acre plot, the second land parcel, measuring about 11 acres (plot no. 19), was put up for auction. However, this plot attracted fewer bidders, with only five showing interest. The successful bidder offered 141.5 crore per acre, while the nearest bidder offered 140.5 crore. In both cases, the difference between the winning bid and the nearest bidder was minimal, ranging from 1 crore to 1.5 crore.

TGIIC officials attributed the success of the auctions to meticulous planning and strategic efforts. To deter non-serious players and small developers, the state government stipulated that the bidding should be in 50 lakh multiples. This measure ensured that only serious and financially capable bidders participated, contributing to the auctions' success.

A TGIIC official noted, 'The plot and location have an advantage, and the government took every care, including the day and timing of starting the bidding process to the date of auction.' Some officials also recalled that the HMDA (Hyderabad Metropolitan Development Authority) recently held auctions for open plots in Bachupally, Nizampet, and other areas on inauspicious days, which led to unsuccessful outcomes.

The success of Monday's land auctions has provided a boost to TGIIC's plans. The corporation intends to hold more auctions in the next couple of months, focusing on the western corridor of the city. This move is expected to further invigorate the real estate market and attract more investments.

Overall, the record-breaking land auctions in Hyderabad have set a positive tone for the real estate sector, providing a strong foundation for future development and growth.