Bengaluru, Nov. 10 -- The Telangana government on Monday sold less than an acre of land at Raidurg, in Hyderabad's Knowledge City area, for Rs.160.42 crore, setting a new peak in land prices in the state, and placing the southern city at the centre of India's commercial real estate boom.

Prominent Hyderabad-based developer Vamsiram Builders bought the 0.97-acre plot for a total of Rs.172.45 crore, including stamp duty and registration. The land parcel will be used for a premium mixed-used development project.

This land auction in Hyderabad's Knowledge City Layout signals the state's continued push to monetize high-value land amid surging investor demand in the city's western corridor. The auction was conducted by the Telangana Industria...