Raidurg land auction sets record as Telangana earns ₹3,135 cr from two plots

New Delhi [India]October 7 (Memorial): The TaLANgana government achieved a criterion in India’s real estate sector and reached the second land parcel in Raidurg La1,556 Crore at an auction on Monday.

This is almost the total income from two parcels La3.135 Crore points to one of the biggest auctions in Haydarabad history.

According to a press release, the TaLangana government, through the Industrial Infrastructure Company (TGIIC) of the State of TaLangana, carried out the auction of two land parcels in Raidurg in Hyderabad Bilgi City.

The second parcel recorded a 11 -acre plot, a winning offer La141.5 crore per acre, total La1,556.5 Crore with the participation of five bidder holders. In the early hours of the day, the first parcel was brought to 7.67 acres. La1,358 crore, approximately translation La12 Crore per acre after the competition with 12 bidders.

Release, except for auction revenues, the state will generate additional income through registration fees and stamp duties and will bring the total estimated income to Rs, he said. 3,135 CRORE. Located near Hitec City and Gachibowli, the land parcels are among the most sought -after commercial regions in Hayarabad.

According to the press release, the result of the auction reflects Haydarabad’s increasing charm as a key investment center and emphasizes the rapid expansion of the city as a business and technology center. Raidurg Plasses, a part of the larger Hayarabad Bilgi City Project, are expected to host large commercial developments that will further increase the infrastructure and employment expectations of the region.

The TaLangana government gave success to its transparent and investor friendly approach. The statement also emphasized the leadership of Prime Minister A. Revanth Redy and Industries Minister D Sridhar Babu for shaping policies that attract large -scale investments in the state.

TGIIC Vice President and General Manager expressed his gratitude to the government for entrusing this turning point to the company. He thanked all the proposal owners for their participation and beliefs in the growth story of TaLangana. He also appreciated the work of the TGIIC team together with JLL and MSTC for the trouble -free and transparent behavior of the auction. (MOMENT)