Land Price In Hyderabad Breaks All-Time Record Breaking all the existing records, an acre of land in Hyderabad has fetched Rs.29.28 crore to the Telangana government. Telangana State Industrial Infrastructure Corporation conducted an e-auction for several places at prime locations in Hyderabad. Aurobindo Pharma bought the land of five acres at the highest rate in Raidurgam close to the IT clusters of Hitec City and Gachibowli.
Reportedly the pharma company has bought one acre for whooping amount of Rs.29.28 crore. The same company purchased another parcel of 3.65 acres in the same area at a price of Rs.24.88 crore per acre. Naya Infra purchased two acres of land in Raidurgam at a price of Rs.24.20 crore per acre. Saimed Labs paid Rs.22.02 crore per acre for a three acre parcel.
The government has decided to dispose of government land parcels which are not required for any public purpose and cannot be kept idle located in various prime areas of Hyderabad and Rangareddy districts.
Officials who conducted the e-auction said this broke all previous records. Even during the boom time in 2007-08, the auction of government land in Raidurgam had only fetched Rs.18 crore to Rs.23 crore per acre.The companies, which purchased the land in the auction will be planning to build world-class corporate headquarters.
The government body also auctioned lands in Manikonda and Kokapet areas for residential use. The price also broke previous records. A real estate company paid Rs.12.63 crore for an acre in Manikonda while an acre land in Kokapet fetched Rs.6.05 crore to the government.
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News Posted: 25 November, 2015
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