+
AMC Raises Rs.1.0965 Bn from Two Plots
Real Estate

AMC Raises Rs.1.0965 Bn from Two Plots

The Ahmedabad Municipal Corporation (AMC) has successfully raised ?1.0965 billion through the auction of two prime plots in a three-day bidding event. The auction saw active participation, reflecting strong interest in the real estate offerings from potential buyers.

The proceeds from the auction are expected to contribute to the civic body's finances, providing a boost to municipal resources for various development projects and initiatives. The successful sale of these plots underscores the robustness of the real estate market in Ahmedabad and the attractiveness of the properties on offer.

The auction's outcome aligns with the city's ongoing urban development efforts, leveraging valuable assets to generate revenue for essential civic endeavours. The funds generated through such auctions play a vital role in sustaining and enhancing the urban infrastructure, further supporting Ahmedabad's growth and progress.

The AMC's strategic approach to leveraging its assets through auctions demonstrates a proactive stance in managing municipal finances and optimising the utility of available land. As Ahmedabad continues to evolve as a dynamic urban centre, these financial injections contribute to the city's overall development and the improvement of essential services for its residents. The successful auction serves as a testament to the continued vitality of the real estate market and the efficiency of the municipal corporation's resource management.

The Ahmedabad Municipal Corporation (AMC) has successfully raised ?1.0965 billion through the auction of two prime plots in a three-day bidding event. The auction saw active participation, reflecting strong interest in the real estate offerings from potential buyers. The proceeds from the auction are expected to contribute to the civic body's finances, providing a boost to municipal resources for various development projects and initiatives. The successful sale of these plots underscores the robustness of the real estate market in Ahmedabad and the attractiveness of the properties on offer. The auction's outcome aligns with the city's ongoing urban development efforts, leveraging valuable assets to generate revenue for essential civic endeavours. The funds generated through such auctions play a vital role in sustaining and enhancing the urban infrastructure, further supporting Ahmedabad's growth and progress. The AMC's strategic approach to leveraging its assets through auctions demonstrates a proactive stance in managing municipal finances and optimising the utility of available land. As Ahmedabad continues to evolve as a dynamic urban centre, these financial injections contribute to the city's overall development and the improvement of essential services for its residents. The successful auction serves as a testament to the continued vitality of the real estate market and the efficiency of the municipal corporation's resource management.

Next Story
Real Estate

DLF Returns to Mumbai with Premium Andheri Residential Project

Delhi-NCR based real estate major DLF announced its return to the Mumbai market on 17 July with the launch of its premium residential project, The WestPark, in Andheri. The first phase includes 416 apartments spread across four towers, with two towers launched on the announcement day. The company plans to invest over Rs 8 billion in the project and expects a topline exceeding Rs 20 billion from Phase 1.“We have launched two towers and, given the strong response, plan to unveil the remaining two towers ahead of schedule, within the next few days,” said Aakash Ohri, Joint Managing Director o..

Next Story
Infrastructure Urban

APCRDA Advances Net Zero Goal with IGBC Training for Officials

In a significant stride towards Andhra Pradesh’s Net Zero target by 2040 and the Swarna Andhra 2047 vision, the Andhra Pradesh Capital Region Development Authority (APCRDA), in partnership with the Indian Green Building Council (IGBC), conducted a high-level capacity-building programme for senior officials in Vijayawada on Friday.Held at a city hotel, the session saw the participation of over 50 senior APCRDA officials, including the Engineer-in-Chief, Chief Engineer (H&B), Director (Planning), Director (Environment), and heads of key departments. The training centred on IGBC’s Green B..

Next Story
Infrastructure Energy

Assam Solar Project Halted as Waaree EPC Contract Is Cancelled

Following the Assam government’s withdrawal from its proposed solar project, the Engineering, Procurement, and Construction (EPC) contract awarded to Waaree Renewable has been suspended. Waaree Group’s EPC division informed the stock exchange of this development through a regulatory filing.The Assam solar project was suspended due to funding challenges, which rendered the initiative unviable for the state government. Waaree Renewable Transmission Limited (RTL) explained that the Government of Assam has withdrawn the project’s funding via the Asian Development Bank (ADB) loan. Consequentl..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?