In 2003, an acre of land in Kanchi Gachibowli, in the fast-developing IT corridor of Hyderabad, was valued at ₹50,000, as per an MoU signed between a private party and the state government. Fast forward to 2025, the same land is expected to fetch ₹80–85 crore per acre in the upcoming Telangana government auction.
This 400-acre land parcel, which boasts of powerful neighbours like Microsoft, the Indian School of Business, the US Consulate and Infosys, had a tumultuous two-decade journey, caught in the crossfire of politics.
In the erstwhile united Andhra Pradesh, the Telugu Desam Party (TDP) government handed over the land to a private company that promised to improve sporting culture in Hyderabad by upgrading infrastructure and building sports centres.
In 2004, the political winds changed and the Congress party came to power. The new ruling party accused the previous government of giving away valuable land at throwaway prices to its close associates and passed an ordinance cancelling the agreement. There was a demand for a CBI inquiry too, as the company in question failed to fulfil its promise of developing sports academies even after 2–3 years and allegedly faked credentials.
The matter reached the court after the private player contested the state government’s decision to retrieve the 400-acre land along with another 450 acres, located in different areas, that had been given to the same company through a sale deed.
After years of being stuck in courts, the case was decided in favour of the state government last year. The new Congress government, which defeated Bharat Rashtra Samiti in the 2023 assembly elections, immediately moved to take possession of the land. The government’s agency, Telangana State Industrial Infrastructure Corporation (TSIIC), recently invited tenders from consultancies to develop a master plan for the land and prepare the bid process for the auction.
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The cash-strapped state government is hoping to boost the state treasury by at least ₹25,000–30,000 crore with the auction of the land at Kanchi Gachibowli.
Once again, politics has erupted over the land, as BRS accused the Congress government of going back on its word. Congress leaders had earlier criticized BRS for auctioning lands during their tenure and had assured the public that they would protect government-owned lands. However, like BRS, Congress is now following the same path to address its financial constraints.
