Hyderabad: Defying claims of a slowdown in Telangana’s real estate sector, land prices in Hyderabad hit a historic high in a government auction on Monday. A single acre at Rayadurg’s Knowledge City fetched an unprecedented ₹177 crore during an e-auction conducted by the Telangana State Industrial Infrastructure Corporation (TGIIC).
Hyderabad land auction sets record price amid market slowdown talk
According to TGIIC officials, two separate plots in Rayadurg went under the hammer. The 7.67-acre parcel recorded a record ₹177 crore per acre, generating ₹1,357.59 crore for the government. Another 11-acre plot fetched ₹141.5 crore per acre, bringing in ₹1,556.5 crore. Combined, both auctions earned the state treasury more than ₹2,914 crore. JLL India and MSTC Ltd conducted the e-auctions on behalf of TGIIC.
TGIIC managing director Shashank said strong investor confidence in Hyderabad’s steady growth drove the record price. He added that both local developers and national-level firms participated in the auction. The sale broke the 2022 record at Kokapet Neopolis, where land sold for ₹100.75 crore per acre.
However, the record-breaking bid has stirred debate in property circles. Critics questioned the unusually high price after Hyderabad Metropolitan Development Authority’s recent suburban auctions saw limited response. Some suggested that the government might have used the auction to project market strength. Officials have not yet disclosed the buyer’s identity, further fueling speculation.
