SBI Twist In Hyderabad’s Costliest Land Deal!

What was celebrated as a record breaking land auction in Hyderabad has now landed in a legal dispute. The Telangana government recently auctioned a 7 acre land parcel in Raidurg’s Knowledge City, where the highest bid touched a staggering Rs 237 crore per acre.

The auction attracted strong interest from several companies. Gowra Ventures emerged as the highest bidder, offering Rs 1,660 crore for the entire seven acres. The deal created headlines across the country as one of the most expensive land transactions ever recorded.

However, the story has now taken an unexpected turn. The SBI has approached the High Court, claiming that 5 acres out of the 7 acre land belong to the bank.

In its petition, SBI argued that the government auctioned land over which it has ownership rights. The bank has requested the court to issue orders directing authorities to hand over the disputed five acres to SBI.

The development has triggered fresh debate over the ownership of the land and raised questions about whether government agencies can auction properties that are under dispute. With the matter now before the High Court, all eyes are on the legal battle that could impact one of Hyderabad’s biggest land deals in recent years.