Land auctions in Hyderabad reached a new milestone on Monday, as a 7.67-acre plot was sold for an astonishing Rs 177 crore per acre in Raidurg’s Knowledge City, establishing it as the city’s most expensive real estate.
The winning bid for another 11-acre land parcel, auctioned at the same site, reached Rs 141.5 crore per acre, contributing nearly Rs 3,000 crore (approximately) to the Telangana State Industrial Infrastructure Corporation (TGIIC), which organized the auction.
The previous highest bid in Greater Hyderabad was noted in 2023, when a 3.6-acre land parcel in the prestigious Neopolis layout in Kokapet was auctioned by the Hyderabad Metropolitan Development Authority (HMDA) for Rs 100.75 crore per acre.
Notably, the highest bid at the last auction in Raidurg, conducted during the BRS regime in 2017, was Rs 42.59 crore per acre, with Gowra Ventures acquiring 2.84 acres for Rs 130 crore. Although there has been no official announcement regarding the successful bidders from Monday’s auction, sources indicate that the 7.67-acre plot was purchased by the pharmaceutical giant MSN Labs for approximately Rs 1,357 crore. The second plot was acquired by Bengaluru-based developer Prestige Group for around Rs 1,556 crore.
In response to the high-value auction — where the government had established a minimum price of Rs 101 crore per acre — officials remarked that it sends a positive message regarding the recovery of Hyderabad’s real estate sector, which has been experiencing a slowdown recently.
“The record bid of Rs 177 crore per acre demonstrates the strong confidence that investors and developers have in Hyderabad’s long-term potential and the ‘Telangana Rising 2047’ narrative. It also reinforces the state government’s vision under the leadership of CM Revanth Reddy,” stated K Shashanka, vice-chairman and managing director of TGIIC. He further noted that the enthusiastic response to the Raidurg auction was a moment of pride for Telangana.
According to reports, the e-auction garnered significant interest from prominent national and regional developers — particularly due to the plots’ location in a major IT hub. Indeed, the 470 acres of Knowledge City host over 100 companies, including major players like Apple and JP Morgan, among others.
Its unique selling points include excellent metro connectivity, closeness to the Outer Ring Road, and the Hyderabad airport. The land that was auctioned is designated for multi-purpose use, allowing it to serve commercial, residential, recreational, hospitality, and entertainment functions without requiring any change in land use.
The TGIIC has indicated that successful bidders must accept the letter of award within one week and remit the full payment within 90 days. The government is optimistic that this auction will not only enhance momentum in the western corridor but also accelerate real estate development in the other three areas of the city.
