TGIIC land auctions in Hyderabad generate ₹2,833 crore

The Telangana Industrial Infrastructure Corporation (TGIIC) generated ₹2,833.22 crore through two land auctions in the Raidurg corridor of Hyderabad within a single week.

The auctions involved 10.63 acres of land. A 5.38-acre plot fetched ₹1,447.22 crore at a rate of ₹269 crore per acre, representing a premium of approximately 52.3% over the reserve price. This followed a previous auction of a 5.25-acre plot that realized ₹1,386 crore at ₹264 crore per acre.

TGIIC officials stated that the high prices reflect strong investor confidence and the strategic importance of the Raidurg corridor due to its connectivity and proximity to major IT and business districts. K. Shashanka, TGIIC Vice Chairman and Managing Director, attributed the results to the state government’s investor-friendly policies and infrastructure development.