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
Technology

We’re building robots that flow, not just move

Founded in 2021, Flo Mobility is reimagining construction automation with vision-AI robots designed for seamless movement through complex sites. In conversation with CW, Manesh Jain, Founder & CEO, discusses the company’s origin, its LiDAR-free tech stack, and expansion plans in the Middle East and US.What inspired the name Flo Mobility? Why ‘Flo’ and not ‘Flow’?When we started the company in 2021, our focus was on building autonomous navigation systems for robots. Since our work centred around robot movement, ‘mobility’ naturally became part of the name. We wanted to co..

Next Story
Real Estate

We’re committed to setting benchmarks in sustainable luxury living

From a landmark land acquisition in Boisar to ambitious launches across the Mumbai Metropolitan Region (MMR), National Capital Region (NCR), Bengaluru and Pune, Birla Estates is driving future-ready growth with a strong focus on sustainability, partnerships and premium living, firmly anchored in its LifeDesigned® philosophy. K T Jithendran, Managing Director & CEO, outlines the company’s premium, sustainable growth playbook in conversation with PRATAP PADODE, Editor-in-Chief, CW. Excerpts:Birla Estates recently acquired a 70.92-acre land parcel in Boisar, Maharashtra, for..

Next Story
Infrastructure Urban

Mumbai’s land crunch and ageing homes call for structured renewal

Founded in 2022, Etonhurst Capital Partners is a real-estate fund management platform focused on the Indian market. As the firm achieves the first close of Rs 1.8 billion for its debut Rs 5 billion fund, Bamasish Paul, Co-founder, Managing Partner & CEO, discusses its sharp focus on redevelopment-driven value creation in Mumbai’s urban core with CW. Excerpts:Etonhurst Capital has achieved a significant milestone with the first close of Rs 1.8 billion for its Rs 5 billion fund. What factors contributed to this early success and how do you plan to attract further investments to r..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?