Ahmedabad Municipal Corporation proposes auction of 10 bn worth plots

01 Dec 2023 CW Team

The auction proposal, presented to the standing committee, outlines a total reserve price of Rs 8.35 billion for these eight plots.

The commercial plot with the highest reserve price is located near @Mango off Sindhu Bhavan Road in the Bodakdev ward, with a valuation of Rs 3.33 billion. This 13,222 sq m plot carries a reserve price of Rs 2.52 lakh per sq metre.

Adjacent to Rajpath Club in the Bodakdev ward, another commercial plot spans 4,626 sq m and boasts a base rate of Rs 2.89 lakh per sq m?the highest ever demanded by the AMC for a commercial plot.

A third plot in Bodakdev, situated behind the Under The Neem Trees restaurant, is proposed for auction with a base price of Rs 1.25 billion. In February, the AMC had attempted a similar auction for seven plots with a combined base price of Rs 4.99 billion, but none were sold.

In addition to the three Bodakdev plots, five others in Makarba, Thaltej, Vatva, and Vejalpur are slated for auction. The reserve prices for these range from Rs 189.9 million to Rs 998.5 million, including two residential plots in Makarba and Thaltej with reserve prices of Rs 189.9 million and Rs 1.117 billion, respectively.

Approval for the sale of these plots will be sought from the standing committee on November 29. If the proposal is accepted, auction dates will be announced. An official from the AMC estate department stated that the AMC anticipates generating approximately Rs 10 billion from the sale of these plots. This move comes after the AMC's unsuccessful attempt in February to sell seven plots, including the most expensive one in the Bodakdev ward, which had a base price of Rs 2.28 lakh per sq m.

Following an unsuccessful attempt to auction off certain plots in February, the Ahmedabad Municipal Corporation (AMC) is now presenting a new proposal to auction eight different plots?six designated for commercial use and two for residential purposes. The majority of these plots are situated in the western parts of the city. The auction proposal, presented to the standing committee, outlines a total reserve price of Rs 8.35 billion for these eight plots. The commercial plot with the highest reserve price is located near @Mango off Sindhu Bhavan Road in the Bodakdev ward, with a valuation of Rs 3.33 billion. This 13,222 sq m plot carries a reserve price of Rs 2.52 lakh per sq metre. Adjacent to Rajpath Club in the Bodakdev ward, another commercial plot spans 4,626 sq m and boasts a base rate of Rs 2.89 lakh per sq m?the highest ever demanded by the AMC for a commercial plot. A third plot in Bodakdev, situated behind the Under The Neem Trees restaurant, is proposed for auction with a base price of Rs 1.25 billion. In February, the AMC had attempted a similar auction for seven plots with a combined base price of Rs 4.99 billion, but none were sold. In addition to the three Bodakdev plots, five others in Makarba, Thaltej, Vatva, and Vejalpur are slated for auction. The reserve prices for these range from Rs 189.9 million to Rs 998.5 million, including two residential plots in Makarba and Thaltej with reserve prices of Rs 189.9 million and Rs 1.117 billion, respectively. Approval for the sale of these plots will be sought from the standing committee on November 29. If the proposal is accepted, auction dates will be announced. An official from the AMC estate department stated that the AMC anticipates generating approximately Rs 10 billion from the sale of these plots. This move comes after the AMC's unsuccessful attempt in February to sell seven plots, including the most expensive one in the Bodakdev ward, which had a base price of Rs 2.28 lakh per sq m.