In a landmark transaction, the Prestige Group has acquired an 11-acre plot in Hyderabad’s Knowledge City for Rs 1,556.5 crore, marking the city’s most expensive land deal to date. This acquisition, part of an auction by the Telangana Government on October 6, 2025, positions Hyderabad at the forefront of India’s commercial real estate boom. At a rate of Rs 141.5 crore per acre, this deal establishes a new standard for land costs not only in Hyderabad but across the nation.
This transaction arrives amid Hyderabad’s ascent as a global business hub, fueled by its reputation as India’s tech and services capital. “The Prestige Group’s investment in such a strategically significant location within Knowledge City reflects the confidence in Hyderabad’s growth trajectory, particularly in the HiTech City micro-market, which has experienced high rental spikes and low vacancy rates,” stated Juggy Marwaha, CEO & Executive Director of Prestige Group, Office.
The acquired land, secured through Prestige Group’s Special Purpose Vehicle (SPV), is situated in the prestigious Raidurg area, close to HITEC City, Gachibowli, and other vital commercial zones. By acquiring this prime real estate, Prestige is well-positioned to meet the increasing demand for high-quality office spaces in one of India’s most vibrant real estate markets.
“At Rs 141.5 crore per acre, this acquisition reflects the strong competition and demand for land in this area. The auction, which had five bidders, illustrates Raidurg’s strategic significance given the limited land supply and high demand driving land prices upward. The Prestige Group’s purchase not only sets a new land pricing record but also signals its long-term vision for the city’s evolving commercial landscape,” remarked an insider.
This transaction is part of a broader, record-setting land auction by the Telangana Government, which yielded a remarkable Rs 3,135 crore in total proceeds. Organized by the Telangana State Industrial Infrastructure Corporation (TGIIC), the auction featured two high-value land parcels; one being acquired by the Prestige Group. JLL served as the advisor for this land auction.
The other parcel, a 7.67-acre plot, was sold for Rs 1,358 crore, at an astonishing Rs 177 crore per acre, purchased by MSN Realty. The auction’s success, driven by robust interest from local and global investors, underscores Hyderabad’s transformation into a top-tier commercial real estate market.
For the Telangana Government, these outcomes validate its efforts to establish a transparent, investor-friendly environment that attracts top-tier developers. The revenue generated will significantly support the state’s infrastructure development initiatives, with additional earnings anticipated through registration fees and stamp duties.
Experts indicate that Hyderabad’s commercial real estate, particularly in HITEC City and nearby Raidurg, is experiencing substantial demand for premium office spaces. As the city continues to grow, especially in technology, finance, and services, the demand from global corporations, particularly in the Global Capability Centre (GCC), is outstripping supply.
Rental prices in HITEC City have reportedly surged by 20-30% in the past year, with prime office spaces in high-demand locations commanding rates between Rs 100-150 per square foot. This increasing rental pressure emphasizes the urgent need for additional office space, making the Prestige Group’s acquisition a timely and strategic move.
Furthermore, Prestige Group’s vision aligns with Hyderabad’s aspirations of becoming a leading global business hub. The group is recognized for developing large commercial projects equipped with state-of-the-art amenities and top-notch infrastructure. With the rising demand for such properties from GCC companies, Prestige Group’s investment in Raidurg comes at an opportune moment.
Prestige Office Ventures, the office division of Prestige Group, aims to expand significantly across key metropolitan areas, targeting a portfolio of 30 million square feet by April 2028 and an annual rental revenue of Rs 3,200 crore by December 2028. Currently, the group has over 17 million square feet of office space under construction, including 7.5 million square feet in Mumbai and another 10 million square feet across Bengaluru, Hyderabad, and Chennai. By the end of FY27, it anticipates operationalizing 17-18 million square feet of new office space, bringing its total portfolio to 30 million square feet by April 2028.
