SBI Moves High Court Claiming Rights Over Prime Rayadurgam Land Auctioned at Record Price

State Bank of India has approached the High Court claiming rights over five acres of land in Survey No. 83/1 at Rayadurgam Panmaktha in Serilingampally Mandal, Rangareddy district. The land recently drew national attention after a government auction fetched a record price of ₹237 crore per acre. SBI has filed separate petitions challenging the auction notification issued on May 6, the subsequent land sale, and government proceedings dated May 20 that rejected the bank’s representation regarding ownership rights.

According to SBI, the land was originally allotted to the former State Bank of Hyderabad in 2010 after payment of ₹13.33 crore. Following the merger of SBH with SBI, the bank continued to maintain facilities on the site and planned to establish its second major corporate office in India after Mumbai. SBI informed the court that it had already spent around ₹21.50 crore on land development and infrastructure works, including compound walls and site improvements. The bank contended that the government proceeded with the auction without resolving its pending representation and has sought cancellation of the auction sale. The matter is scheduled to come up before Justice N.V. Shravan Kumar for further hearing.