The Ahmedabad Municipal Corporation (AMC) recently held an auction for 13 plots, managing to sell four while achieving remarkable returns on each sale. The highlight of the auction was a 4,658 sq m plot in Bodakdev, initially priced at Rs.2.70 lakh per sq m, which sold for ?3.07 lakh per sq m. A company purchased the prime property for Rs.1.43 billion, far exceeding the base price.

In total, AMC generated Rs.2.36 billion from the sale of the four plots, surpassing the base price of ?1.95 billion by more than Rs.400 million. Among other significant sales, a 5,741 sq m plot in Nikol sold for ?860 million, and a 963 sq m plot in Motera fetched ?151 million. Additionally, a plot in Makarba, sized at 3,799 sq m, was auctioned for Rs.285 million at Rs.75,000 per sq m.

Approval for the sales will be finalized at the standing committee meeting.