Hyderabad: Creating a new record in the real estate market in Hyderabad, an acre of government land was auctioned for a whopping Rs 177 crore.

The Telangana Industrial Infrastructure Corporation (TGIIC) set a new record in its latest auction of 7.67 acres at Raidurg, Hyderabad Knowledge City, setting a new benchmark for land value in Telangana.

Officials said that this is the highest-ever price per acre realised in any government-led auction in the state, surpassing the earlier Neopolis, Kokapet benchmark of Rs 100.75 crore per acre for 3.60 acres achieved in auctions conducted by Hyderabad Metropolitan Development Authority (HMDA) in 2023.

The government said the Raidurg auction drew exceptional participation from leading national and regional developers, demonstrating strong investor

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