Hyderabad: The ongoing dispute between the Telangana govt and the State Bank of India (SBI) over a prime five-acre parcel in Raidurg’s Knowledge City appears headed for closure, with the bank’s board approving the govt’s offer of alternate land.With this, the case pending before the Telangana high court is likely to be withdrawn clearing a major hurdle surrounding one of the city’s most expensive land parcels. Sources in the govt said the SBI board, at its meeting on June 30, approved the proposal and the official resolution is expected to reach local bank authorities within the next few days.Under the new deal, SBI will be allotted 2.5 acres in Knowledge City along with seven to eight acres in Bharat Future City. The bank had sought 10 acres in Future City for a proposed data centre, while the govt had initially offered five acres.Industries department officials said that once the board resolution is received by SBI’s local officials, the bank is expected to file an affidavit before the high court on July 9, the next date of hearing in the case and formally withdraw its petition.The breakthrough follows a series of discussions held in the last week of June between the chief secretary and senior SBI officials. During the meetings, the state govt expressed its willingness to allot alternate land at various locations. SBI representatives subsequently inspected sites in Raidurg, Osman Nagar and Bharat Future City before the two sides arrived at a mutually acceptable formula.The dispute traces its origins to the Telangana Industrial Infrastructure Corporation’s auction of land in Knowledge City in May, where one acre fetched an unprecedented Rs 237 crore.SBI had originally acquired the five-acre Raidurg parcel in 2010 at Rs 13.30 crore per acre for constructing office and commercial facilities. However, after the bank failed to complete the payment process, TGIIC cancelled the allotment in Jan 2021 and resumed possession of the land.Following the high-value auction in May, SBI approached the high court challenging the govt’s decision. With both sides now agreeing on an alternate land package, officials said the issue has been resolved amicably, bringing an end to a dispute that gained significance amid Hyderabad’s soaring land values.
