Hyderabad, June 2 -- Land prices in Hyderabad's prime IT hub of Raidurg have once again crossed the Rs 200-crore-per-acre mark, underscoring the strong demand for premium commercial real estate in the city.

The Telangana Industrial Infrastructure Corporation (TGIIC) on Monday, June 1, conducted an e-auction for a 5.09-acre parcel located in Survey No. 83/1, Plot No. P4, at Raidurg. The land was acquired by Hyderabad-based Vamsiram Builders at a bid of Rs 204 crore per acre.

The auction fetched a total of Rs 1,038.36 crore for the 5.09-acre property, representing a 46.8 per cent premium over the government's minimum support price. Although market estimates had projected bids of up to Rs 250 crore per acre, the final price settled at Rs 2...