Raidurg land auction set to fetch Rs 2,000 cr

The lands in Raidurg, near Hyderabad, are turning into a major source of income. This area is considered ideal for IT, business, and commercial development, so land prices are rising rapidly. To reduce its financial deficit, the Telangana government plans to earn significant revenue through the upcoming land auction.

The government has already set a reserve price of Rs 101 crore per acre. However, market experts believe that the auction price could reach at least Rs 150 crore per acre, and there is a possibility it could go even higher.

Experts also say that the prices of Raidurg lands might surpass those in Kokapet and other areas. Specifically, in Raidurg Knowledge City, the government will auction a total of 18.67 acres - 11 acres from Plot No. 19 of Survey No. 83/1, and 7.67 acres from Plot No. 15A/2.

For this auction, the registration fee is set at Rs 1,180, and the bid document fee is Rs 10 lakh per plot. The deadline for submitting bids is October 1 at 5 PM, and land visits are allowed until October 4. The auction itself will take place on October 6 from 3 PM to 6 PM.

It is estimated that the government could earn over Rs 2,000 crore through this auction.