T’s Bengaluru roadshow fetches record land bid

Hyderabad: For the first time, the state govt took its land pitch outside Telangana. In April, the Telangana Industrial Infrastructure Corporation (TGIIC) held a roadshow in Bengaluru, not to promote tourism but to woo developers and investors ahead of the Raidurg auction.The strategy worked. A Raidurg land parcel fetched a staggering ₹237 crore per acre on Thursday, setting a new benchmark and proving Hyderabad’s property market is far from slowing down. The record‑breaking bid underscored the city’s magnetic pull for national‑level builders, sources said.Officials revealed that beyond Bengaluru, outreach extended to Delhi and Mumbai also, where top developers were invited to participate.

“TGIIC wanted to hold roadshows in Mumbai and Delhi also, but due to paucity of time, we called developers and invited them to participate in the bidding. Firms of national repute are keen on investing and developing projects in Telangana, especially Hyderabad,” an official of TGIIC said.The effort tapped into the growing interest of firms already familiar with Hyderabad’s IT corridor and projects in Kokapet and other western zones.

“We wanted to reach out to new developers and infra giants, explaining Hyderabad’s real estate potential,” a senior industries department official said.Initially, TGIIC had fixed the upset price at ₹139 crore per acre. Officials expected bids to hover just above ₹200 crore, given the previous high of ₹177 crore. But the auction surprised everyone — four firms crossed the ₹200 crore mark, with the winning bid touching ₹237 crore per acre.The success adds to a string of buoyant auctions over the past eight months, reinforcing Hyderabad’s reputation as one of India’s most vibrant real estate markets. Chief minister A Revanth Reddy, keen to counter talk of a slowdown in the western corridor, has personally backed the auctions. Sources said he congratulated TGIIC officials soon after Thursday’s record sale, calling it proof of investor confidence in Telangana’s growth story.