Hyderabad’s Most Expensive Land Sale Takes a New Turn

A major twist has emerged in Hyderabad’s most expensive land deal. The State Bank of India (SBI) has approached the Telangana High Court, claiming ownership rights over a significant portion of the prime land parcel in Raidurg that was recently auctioned by the Telangana Industrial Infrastructure Corporation (TGIIC).

The land became a hot topic after a 6.29-acre plot in Raidurg Knowledge City was sold for a record ₹1,490 crore, making it one of the costliest land transactions in Hyderabad’s history. The winning bidder was Gowra Ventures, which planned to develop the property for commercial use.

However, SBI has now claimed that around five acres of the land originally belonged to the former State Bank of Hyderabad, which later merged with SBI. The bank says it purchased the land from the government in 2010 and spent several crores on site development and approvals for a proposed corporate centre.

According to SBI, the government had no authority to resume or auction the land without following proper legal procedures. The bank argues that previous court orders had directed authorities to consider its representations regarding the property. Despite this, the land was included in the recent auction, leading SBI to challenge the move in court.

The case is now before the Telangana High Court, and the outcome could have a significant impact on Hyderabad’s record-breaking land deal. Real estate and business circles are closely watching the developments as the legal battle unfolds.