Good response to APIIC auctions at Rayadurg

The auction conducted by Andhra Pradesh Industrial Infrastructure Corporation Ltd., for 90 acres of land in Knowledge City at Rayadurg, near Hi-Tech City, saw intense bidding from three major competitors on Tuesday.

While two plots of 30 acres each were taken yielding APIIC a revenue of Rs.1,296 crore, ( asr: this money may be funding Roads(ORR?) and other developments ..)

The second plot was taken by Bangalore-based company, Purvankar, at Rs.21 crore per acre. All the three plots were locked up in triangular competition between BPTP, Purvankar and DLF. ( asr: good open competition )

Out of 414 acre- knowledge City, the APIIC so far auctioned 140 acres,(asr: seems this is Govt. acquired/reserved? land when created Hi-Tech city ) including 60 acres auctioned on Tuesday. While the first 30 acres about an year ago was bid for at Rs.16 crores per acre, DLF after few months acquired 25 acres at Rs.18.81 crores per acre. ‘My Home’ had bid for 10 acres at Rs. 20.01 crores per acre and ITC acquired five acres at Rs.25.5 crores per acre.