The Telangana State Industrial Infrastructure Corporation (TGIIC) is preparing to auction two land parcels measuring about six to seven acres in Hyderabad’s Raidurg Knowledge City next week, with the sale expected to generate around Rs 1,500 crore.
TGIIC is likely to set a reserve price of Rs 200 crore per acre, according to officials cited in the report. The corporation is expected to complete the auction by November. The proposed sale follows an earlier Raidurg auction in August that fetched a record Rs 269 crore per acre.
One of the parcels likely to be auctioned measures 3.70 acres and was previously allotted to the International Arbitration and Mediation Centre (IAMC) by the former BRS government. TGIIC has written to the Telangana government seeking the land’s takeover after the Supreme Court upheld the cancellation of the allotment.
The land, identified as part of survey number 83/1 in Raidurg, had been allotted free of cost in 2021 without collection of its market value, according to the report. The state government had also announced financial assistance of Rs 3 crore for the centre in 2022. Following the court’s decision, the government approved TGIIC’s proposal to take back the parcel, with an official notification expected within a week.
A second parcel of about three acres in Knowledge City is also being prepared for sale. Together, the two plots could bring in approximately Rs 1,500 crore if bidding reaches the level anticipated by TGIIC.
The planned auction reflects the corporation’s strategy of releasing land in phases rather than placing all available parcels on the market at once. TGIIC officials said the approach is intended to increase competition and improve bid values in successive auctions. The corporation has also been contacting companies and holding roadshows, including in Bengaluru, to attract potential investors to Raidurg.
The timing has been linked by officials to seasonal buying patterns. Investors and buyers generally prefer to purchase land during Navaratri and before Diwali, while housing sales also tend to increase during this period, the report said. TGIIC had previously conducted an auction during the Sravanam month.
The Raidurg land sales are part of a wider effort to monetise premium urban land in one of Hyderabad’s major commercial and technology districts. TGIIC has sold about 40 acres in the past two years in the same survey number in Raidurg Panmakta village and has another 10 acres of litigation-free land available, according to the report.
At the same time, about 90 acres in the area remain involved in litigation. The corporation is working to clear those disputes, which could determine how much additional land becomes available for future auctions and how quickly the Knowledge City precinct can be developed.
The immediate next step is the state government’s notification on the 3.70-acre parcel, followed by the proposed auction of both plots. TGIIC is expected to finalise the reserve price and auction schedule before the sale is conducted.
