The Telangana State Industrial Infrastructure Corporation (TGIIC) is preparing to auction two land parcels measuring about six to seven acres in Hyderabad’s Raidurg Knowledge City, with the sale expected next week and completion planned by November, according to officials cited by the Times of India.
The proposed Raidurg land auction could generate about Rs 1,500 crore if the parcels achieve prices close to the reserve rate expected to be fixed by TGIIC. The corporation is likely to set a reserve price of Rs 200 crore per acre, based on the price achieved in an earlier auction in the same high-value commercial district.
One of the parcels measures 3.70 acres and had previously been allotted to the International Arbitration and Mediation Centre (IAMC) by the previous BRS government. TGIIC has written to the state government seeking the transfer of the land back to the corporation after the Supreme Court upheld the cancellation of the allotment, according to the report.
The land, identified as part of survey number 83/1 in Raidurg, had been allotted free of cost in 2021 without collection of market value, the report said. The state government had also announced financial assistance of Rs 3 crore for the centre in 2022. TGIIC is awaiting a formal notification on the transfer, which a senior official said could be cleared within a week.
A second parcel measuring about three acres in Knowledge City is also being prepared for auction. Together, the two plots are expected to provide the corporation with a fresh opportunity to monetise land in one of Hyderabad’s most commercially valuable development zones.
The proposed sale follows TGIIC’s earlier auction in the Raidurg Panmakta area, which fetched Rs 269 crore per acre in August, described in the report as the highest-ever price recorded in Raidurg Knowledge City. The result has established a high benchmark for subsequent auctions and is expected to influence the reserve price for the new sale.
TGIIC has been releasing land in phases rather than bringing all available parcels to the market at once. Officials said the approach is intended to increase competition and improve the bid value achieved in each auction. The corporation has also been reaching out to companies and conducting roadshows, including in Bengaluru, to build investor interest in the parcels.
The strategy is unfolding against a broader land-clearance challenge in the area. TGIIC has sold about 40 acres in the past two years in survey number 83/1 and is left with around 10 acres of litigation-free land, according to the report. It is also working to clear approximately 90 acres involved in litigation.
The auction will therefore test not only demand for premium commercial land in Hyderabad but also the corporation’s ability to convert legally clear and institutionally controlled land into public revenue. The immediate milestones are the state notification on the IAMC parcel, the auction notification and the completion of the proposed sales by November.
