Raidurg auction sets record with ₹269 crore per acre

Breaching all the earlier records, an acre of plot in Raidurg fetched ₹269 crore for the Telangana Industrial Infrastructure Corporation (TGIIC), which earned ₹1,447.22 crore through the auction of a 5.38-acre plot.According to the TGIIC, the result follows the auction of 5.25 acres in Plot P1 last week, which fetched ₹1,386 crore, or ₹264 crore an acre. The two auctions together resulted in an average realisation of about ₹266.53 crore per acre and represented a premium of around 52.3% over the reserve price.Overall, the TGIIC raised ₹2,833.22 crore through the auction of two plots spread over 10.63 acres at Raidurg, underscoring strong investor demand for strategically located commercial land in Hyderabad.The price, it said, indicated confidence among leading developers in Hyderabad’s lo