Telangana Govt eyes Rs 3,500 cr from Osman Nagar land auctions

Hyderabad: After reaping record revenues from land sales in prime western corridors, Telangana govt has turned to the next growth hotspot on Hyderabad's outskirts, putting high value parcels in Osman Nagar near Tellapur under the hammer.Following auctions in upscale locations such as Raidurg, Kokapet, Gopanpally, Gachibowli and Budwel in recent times, the govt has now lined up about 48 acres of govt land in Osman Nagar, close to Financial District and the Outer Ring Road.
Sources said the govt resumed land auctions after a three-month gap to mobilise funds of ₹4,000 crore to ₹5,000 crore for welfare commitments, including Rythu Bharosa, and other public expenditures. The parcels will be auctioned on March 10, 13 and 16, with an upset price of ₹39 crore per acre. Officials estimate the sales could generate between ₹3,000 crore and ₹3,500 crore in revenue. "For the first time, Osman Nagar lands were put for auction. In Raidurg, the govt sold one acre of land for a staggering Rs 177 crore, and it was Rs 152 crore in Neopolis in Kokapet. Osman Nagar land prices are around Rs 40 crore to Rs 50 crore per acre," a senior official of Telangana Industrial Infrastructure Corporation said. Seven major land parcels ranging from 4 to 10 acres each will be offered. Officials noted that several big developers, including Rajpushpa, have already launched residential projects in the Osman Nagar-Tellapur belt, boosting investor interest. The plots fall under a mixed use zoning category, allowing commercial, residential, retail, healthcare and entertainment development. Their proximity — about two minutes from the ORR, 15 minutes from Financial District and 30 minutes from Hi-Tec City — is seen as a major draw.