Epaper
Hyderabad’s prime commercial land market has set another stunning record, with a plot reportedly fetching an eye-popping Rs 264 crore per acre in the latest TGIIC auction.
The previous record of Rs 237 crore per acre for land at Raidurg Knowledge City did not even last three months.
In the latest auction conducted by the Telangana Industrial Infrastructure Corporation (TGIIC), MSN Realty acquired Plot No. 1, measuring 5.25 acres, at a record price of Rs 264 crore per acre.
At that rate, the total value of the parcel works out to around Rs 1,386 crore.
The deal marks a sharp jump from the earlier Rs 237-crore-per-acre benchmark and once again underlines the extraordinary demand for premium commercial land in Hyderabad.
In less than three months, the record has moved from Rs 237 crore to Rs 264 crore per acre, an increase of Rs 27 crore per acre.
The latest auction is another indication of how aggressively developers and investors are betting on Hyderabad’s commercial real estate market, particularly in prime IT and business corridors.
Land prices in these locations are being supported by strong demand for office space, Global Capability Centres, luxury projects and large-scale commercial developments.
What was considered an extraordinary price just a few months ago has already been surpassed.
With record after record being created, Hyderabad’s premium land market is entering a completely new price zone.
Rs 237 crore per acre was the record. Now, Rs 264 crore is the new benchmark.
Isn’t India a socialist communist country? How can someone have that much money to invest in real estate? Government should take over this land redustribute equally at Rs 100 per acre. That is the best affordable price
It’s all scam and fraud. Nothing genuine.