Record Land Sale in Hyderabad: ₹177 Crore per Acre in Raidadurg

Is this a sign of recovery for the real estate market in Telangana, especially in Hyderabad?! Since the Congress party came to power in Telangana, there has been widespread speculation that the real estate market has been in decline. For the past two years, especially leading up to the elections, the real estate market has indeed been sluggish. A few months ago, the Telangana government introduced the Hyderabad Disaster Response and Asset Protection Agency (HYDRA), which also had some impact on the market. This impact, along with the opposition BRS's publicity, played a significant role. However, suddenly, the price of one acre of land in Raidadurg, Hyderabad, reached ₹177 crores, which has surprised the real estate sector and everyone else. In the Knowledge City of Raidadurg, 7.6 acres of land were acquired by MSN Realty for a total of ₹1357 crores, priced at ₹177 crores per acre. Such high prices have never been seen before in Hyderabad. Even during the BRS government, the price of one acre sold in Neopolis, Kokapet, was ₹100.75 crores, which is significantly less than the current price.

In the past, when the HMDA conducted auctions, BRS ran a major publicity campaign against the prices, as is well known. The Telangana State Industrial Infrastructure Corporation (TSIIC) set the auction for the land in Raidadurg, and it attracted interest not only from prominent national companies but also from local companies in the state, as per a statement by TSIIC. The price of ₹177 crores per acre in Raidadurg indicates that investors and developers have renewed confidence in the Hyderabad market, according to the TSIIC statement. It is highly likely that the Congress government will now take full advantage of this development and promote it heavily. Along with the TSIIC's land auctions, officials revealed that good prices were achieved in the Housing Board land auctions as well. In Chintal, the price per yard reached ₹1.14 lakh. With all these developments, there is a growing opinion that the Hyderabad real estate market is getting back on track. However, it remains to be seen whether this trend will be limited to select areas or if it will spread throughout the city, and that will become clear in a few months.