Raidurg Record: Land Fetches ₹269 Cr/Acre in Knowledge City

Just when we thought the ₹264 Crore/acre bid for Plot P1 last week was the peak, TGIIC's auction for Plot P2 in Raidurg Knowledge City just blew past it at a whopping ₹269 Crore per acre. Vamsiram Group reportedly bagged the 5.38-acre parcel for a total deal value of ₹1,447.22 Crores, cementing Raidurg as the most expensive commercial land market in the country.

Across both Plot P1 and Plot P2, TGIIC has pulled in over ₹2,833 Crores from just 10.63 acres of prime land in a single week. To put this into perspective, developers are paying a premium of over 52% above the government's base reserve price. With the Durgam Cheruvu cable bridge and Financial District right next door, the sheer density of commercial Grade-A office space planned here is mind-boggling.

At ₹269 Cr an acre land acquisition cost, the eventual commercial lease rates or retail pricing in these upcoming towers will have to hit astronomical levels to make the numbers work. What do you guys think—are we looking at a sustainable commercial boom in Raidurg, or are land valuations getting way too overheated?