The Telangana State Industrial Infrastructure Corporation (TGIIC) is preparing to auction two land parcels measuring about 6–7 acres in Hyderabad’s Raidurg Knowledge City area, with the sale expected to be completed by November and potentially raise around Rs 1,500 crore, according to officials cited by the Times of India.
The proposed auction is expected to take place next week, subject to the completion of the notification process for one of the parcels. TGIIC is likely to set a reserve price of Rs 200 crore per acre, based on the amount secured in an earlier auction in the same area.
One of the parcels being prepared for sale measures 3.70 acres and was previously allotted to the International Arbitration and Mediation Centre (IAMC) by the erstwhile BRS government. TGIIC has written to the Telangana government seeking to take back the land after the Supreme Court upheld the cancellation of the allotment, the report said.
The land, located in survey number 83/1 in Raidurg, had been allotted free of cost in 2021 without collection of market value. The previous government had also announced financial assistance of Rs 3 crore for the centre in 2022. The state government has approved TGIIC’s proposal to take over the parcel, and the notification is expected to be cleared within a week, according to a senior TGIIC official cited in the report.
The second parcel being readied for auction measures about three acres and is located in Knowledge City. Together, the two plots could generate approximately Rs 1,500 crore if bids meet the corporation’s expectations.
The proposed sale follows a record auction in Raidurg Panmakta held in the last week of August, when a land parcel fetched Rs 269 crore per acre. That transaction established a benchmark above the reserve price now being considered for the next auction.
TGIIC has been releasing land in phases rather than offering all available parcels at once. The corporation believes that staggered auctions can help increase bid values in successive sales. It has also been contacting prospective companies and organising roadshows, including in Bengaluru, to attract investors to the Raidurg area.
The timing of the proposed auction is linked by TGIIC officials to the seasonal buying cycle. The corporation expects investors and buyers to show greater interest during Navaratri and before Diwali, while housing sales also typically become more active during this period, the report said. An earlier auction was conducted during the Sravanam month.
TGIIC has sold about 40 acres in the past two years in survey number 83/1 at Raidurg Panmakta village. It has around 10 acres of litigation-free land remaining in the same area, while efforts are continuing to clear approximately 90 acres involved in litigation. The next auction will therefore draw on land that the corporation is treating as available for immediate monetisation, subject to the required government notifications and approvals.
