Hyderabad IT Corridor Turns Into A Goldmine

Hyderabad’s IT corridor is once again making headlines with a staggering land price. Raidurg has emerged as one of the most valuable real estate locations in the city after an acre of land fetched a record 269 crore in the latest auction.

What makes the latest deal even more interesting is the timing. Just a week ago, an acre in the same Raidurg area was sold for 264 crore. Now, an adjacent plot has pushed the price further to 269 crore per acre.

The latest auction was conducted by TGIIC for 5.38 acres in Survey Number 83/1 at Raidurg. The government had fixed the minimum price at Rs 175 crore per acre, setting the stage for another intense bidding war.

Several real estate companies participated in the online auction after paying the required advance amount of 10 crore. The competition eventually pushed the bidding far beyond the government’s initial expectations.

Vamsi Ram Builders emerged as the highest bidder and acquired the entire 5.38 acres at 269 crore per acre. The deal once again underlines the massive demand for commercial land in Hyderabad’s IT corridor.

With this auction, the government is estimated to have earned around Rs 1,447 crore. The huge revenue has once again highlighted the growing value of prime land around Hyderabad’s IT hubs.

Raidurg is now becoming a hot topic in Hyderabad’s real estate circles. With land prices crossing Rs 260 crore per acre within a week, the IT corridor is clearly establishing itself as one of the country’s most expensive commercial real estate destinations.

With this kind of massive demand and rapidly rising prices, it will not be surprising if an acre in Raidurg gets close to the Rs 300 crore mark within the next few months.