The Telangana Industrial Infrastructure Corporation (TGIIC) has set a new land price record in the Raidurg area of Cyberabad in Hyderabad.
TGIIC has also said that 25 per cent of the value from the previous Plot P1 auction has already been received as the first-stage payment.
“The auction is a strong endorsement of investor confidence in Hyderabad and Telangana and the continued attractiveness of Raidurg as a premier business and investment destination,” said TGIIC Vice Chairman and Managing Director K Shashanka, IAS. He said the strong realisations demonstrate demand for strategically located land and the value that can be unlocked through transparent and competitive price discovery.
The Congress government termed the latest auction as more than just another land sale.
”It shows how quickly the value of prime commercial land in Hyderabad is rising and strengthens Raidurg’s position as one of India’s most important business and investment corridors,” said the government authorities, highlighting the government’s policies.
