Two commercial plots on the western bank of the Sabarmati Riverfront will be auctioned with a base price of Rs 112 crore each, equivalent to Rs 1.12 bn apiece and Rs 2.24 billion in total. The parcels are located adjacent to the Metro Rail Bridge in Ahmedabad and form the first commercial offering after a prolonged pause. The Riverfront Development Corporation has framed the sale as part of a phased commercial release to revive development along the riverfront. The combined base valuation has been set by the corporation to reflect market rates along the riverfront.

The corporation has fixed a base rate of Rs 3.50 lakh per sq m, equal to Rs 0.35 mn per sq m, for the sites. Each plot measures 3,200 sq m and carries a permitted built up area of around 43,154 sq m, while construction of up to 66 metres is allowed. These specifications are intended to guide developer proposals and future construction plans. The permitted built up area and dimensional limits are designed to standardise development across the stretch.

The online auction is scheduled for September second and bidders will be required to deposit Rs 11.22 crore as earnest money, equivalent to Rs112.2 mn. The stated combined base value could rise depending on competition during the online bidding process. The corporation has provided details and timelines to prospective bidders through its portal. Tender documents and procedural guidance have been published on the corporation portal to assist prospective bidders.

The sale marks a resumption of commercial plot disposals after a dispute over old-condition and new-condition land was resolved at the state government level. Following the settlement the state government approved the method of sale and the pricing mechanism for commercial plots along the riverfront. The corporation said it will proceed in phases and monitor market interest before moving to subsequent batches. Authorities will monitor responses to the first sale before releasing further lots in the planned sequence.