The recent series of high-value land auctions has given Raidurg a new identity within the real estate industry: Hyderabad's Manhattan. This technology corridor is experiencing a transformation, with average building heights rising from 15 to 25 floors, reshaping its skyline. The multi-crore deals have also pushed up commercial leasing rates in this upscale locality.
Soaring Leasing Rates
Until a year or two ago, rentals in Raidurg hovered between ₹75 and ₹80 per square foot (sft). Now, the area commands anywhere between ₹130 and ₹150 per sft, according to industry records. Companies are flocking to set up shop in Raidurg, including major IT firms, Global Capability Centres, and premium co-working operators seeking to command higher prices from clients.
Developer Insights
Aditya Gowra, director of Gowra Ventures Pvt Ltd, which won Thursday's historic auction at ₹237 crore per acre, said, "When I bought land here for ₹42 crore an acre a decade ago — much to the surprise of many — I knew Raidurg would one day become the city's Manhattan." He added, "Raidurg's USP is that it has large government-owned layouts with clear titles. That makes it an attractive proposition for companies with deep pockets looking to build facilities." Gowra is confident that prices will rise further, as his firm has already signed international clients at rentals of up to ₹300 per sft for another project in Raidurg.
Future Predictions
Some industry sources predict that average leasing values in the locality could soon touch ₹200 to ₹250 per sft — more than four times the rates prevalent in the Financial District, where rentals continue to hover around ₹55 to ₹60 per sft.
Location Advantage
"Raidurg has been ahead of the curve for some time now because of its location. The latest round of auctions has only strengthened its position," said a leading developer. Industry bodies believe the locality could soon outpace other major southern Indian cities in the race for premium commercial real estate.
G Ram Reddy, president-elect of Credai National, said, "Already, prices here are comparable to those in some parts of Bengaluru and higher than in cities such as Chennai. With rising land values expected to push leasing rates even further, Raidurg is poised to become the most expensive real estate destination in southern India in the near future."
