In a landmark move, the Telangana government extended its land pitch beyond the state for the first time. In April, the Telangana Industrial Infrastructure Corporation (TGIIC) held a roadshow in Bengaluru, not to promote tourism but to attract developers and investors ahead of the Raidurg auction. The strategy proved highly successful.
A prime land parcel in Raidurg fetched an astonishing ₹237 crore per acre on Thursday, setting a new benchmark and demonstrating that Hyderabad's property market remains robust. The record-breaking bid underscored the city's magnetic pull for national-level builders, according to sources.
Officials revealed that outreach extended beyond Bengaluru to Delhi and Mumbai, where top developers were invited to participate. "TGIIC wanted to hold roadshows in Mumbai and Delhi also, but due to paucity of time, we called developers and invited them to participate in the bidding. Firms of national repute are keen on investing and developing projects in Telangana, especially Hyderabad," a TGIIC official said.
The effort tapped into the growing interest of companies already familiar with Hyderabad's IT corridor and projects in Kokapet and other western zones. "We wanted to reach out to new developers and infrastructure giants, explaining Hyderabad's real estate potential," a senior industries department official added.
Initially, TGIIC had set the upset price at ₹139 crore per acre. Officials expected bids to hover just above ₹200 crore, given the previous high of ₹177 crore. However, the auction surprised everyone — four firms crossed the ₹200 crore mark, with the winning bid touching ₹237 crore per acre.
The success adds to a series of buoyant auctions over the past eight months, reinforcing Hyderabad's reputation as one of India's most vibrant real estate markets. Chief Minister A Revanth Reddy, keen to counter talk of a slowdown in the western corridor, has personally backed the auctions. Sources said he congratulated TGIIC officials soon after Thursday's record sale, calling it proof of investor confidence in Telangana's growth story.
