HYDERABAD: Osman Nagar near Tellapur has become Hyderabad’s latest real estate hotspot, with the first land auctions in the area yielding impressive bids. An acre of land sold for Rs 51.25 crore, which is nearly 30% above the reserve price of Rs 39 crore.
The Telangana Industrial Infrastructure Corporation (TGIIC) generated Rs 768 crore from the auction of two prime land parcels, indicating a strong demand for strategically located urban land.
Leading developer Rajapushpa acquired a 10.09-acre parcel for Rs 51.25 crore per acre, while Brigade Group bought another 5.72-acre parcel at Rs 44 crore per acre. TGIIC officials noted that the auction achieved an average realization of Rs 48.6 crore per acre, demonstrating a robust market response and effective price discovery.
The fierce bidding was attributed to Osman Nagar’s prime location near the Outer Ring Road, Neopolis, Financial District, and major IT hubs, as stated by TGIIC vice-chairman and managing director K Shashanka.
Shashanka highlighted that the multi-use zoning of these parcels enhanced their appeal, allowing a mix of residential and integrated developments in this rapidly appreciating micro-market.
Investor Confidence
The TGIIC MD stated, “This result clearly reflects investors’ confidence in Hyderabad’s growth trajectory and in a government that consistently fulfills its promises.” He described the auction results as a broader endorsement of Hyderabad’s growth narrative, showcasing the strengths of transparent processes and strategic land development, as well as investor confidence in Telangana’s urban expansion.
Rajapushpa purchased the parcel adjacent to its flagship Rajapushpa Lifestyle City, a 400-acre integrated township in Osman Nagar.
Bharath Raj Reddy, director of Rajapushpa and head of the residential division, commented on the acquisition, saying, “This land parcel will act as a key gateway to our 400-acre township. We plan to develop a mixed-use facility, including a premium retail mall and a gated residential community, further enriching the ecosystem of Rajapushpa Lifestyle City.” He noted that this purchase marks a significant step in Rajapushpa’s commitment to creating large-scale integrated lifestyle destinations in Hyderabad.
