Ahmedabad civic body auctions 8,060 sq m plot at Rs 151 cr
ECONOMY & POLICY

Ahmedabad civic body auctions 8,060 sq m plot at Rs 151 cr

The Ahmedabad Municipal Corporation auctioned a prime 8,060 sq m plot in Bodakdev for Rs 151.76 crore on Tuesday. It is the highest ever bid for a single plot that AMC has received in an e-auction.

A senior AMC official told the media a developer firm Shresht Infrastructure Group had bagged the deal. Earlier on May 7, a nearby plot of 3,569 sq m was sold to a developer at Rs 77.04 crore.

According to the AMC reports, Shreshth Infrastructure had bid Rs 1.88 lakh per sq metre for the plot at Bodakdev and paid Rs 24.18 lakh more than the base price set by the AMC for that plot. The senior AMC official says that there were two bidders for that plot.

These are the commercial plots for sale, and there are 13 more to be auctioned on 1 July 2021, he said. In this time of the pandemic, it is important to raise money for infrastructure, and such strategic sales are vital, he said.

Last year on February 7, AMC aimed to raise money for more than Rs 700 crore through the e-auctioning of five plots in the city. But could not manage to raise even Rs 306 crore back then.

Image Source


Also read: BDA to tie up with real estate firms to develop vacant lands

The Ahmedabad Municipal Corporation auctioned a prime 8,060 sq m plot in Bodakdev for Rs 151.76 crore on Tuesday. It is the highest ever bid for a single plot that AMC has received in an e-auction. A senior AMC official told the media a developer firm Shresht Infrastructure Group had bagged the deal. Earlier on May 7, a nearby plot of 3,569 sq m was sold to a developer at Rs 77.04 crore. According to the AMC reports, Shreshth Infrastructure had bid Rs 1.88 lakh per sq metre for the plot at Bodakdev and paid Rs 24.18 lakh more than the base price set by the AMC for that plot. The senior AMC official says that there were two bidders for that plot. These are the commercial plots for sale, and there are 13 more to be auctioned on 1 July 2021, he said. In this time of the pandemic, it is important to raise money for infrastructure, and such strategic sales are vital, he said. Last year on February 7, AMC aimed to raise money for more than Rs 700 crore through the e-auctioning of five plots in the city. But could not manage to raise even Rs 306 crore back then. Image Source Also read: BDA to tie up with real estate firms to develop vacant lands

Next Story
Infrastructure Transport

Pune Railway Station Yard Remodelling Project Blueprint Finalised

The Railway authorities have finalised a comprehensive blueprint to remodel Pune Railway Station, which includes modernising the platforms and yard infrastructure. Tenders for various components of the project are expected to be issued soon, signalling that the yard remodelling initiative is finally progressing. The railway administration has indicated that the initial phase of the work is likely to commence between February and March of the coming year.This project has been under discussion for several years. Due to the large number of passengers arriving in Pune from other states—particula..

Next Story
Infrastructure Transport

Quadruple Rail Line Planned between Karjat and Panvel to Ease Traffic

In a major infrastructure move aimed at easing the burden on Mumbai’s overcrowded suburban railway system, the Mumbai Railway Vikas Corporation (MRVC) has proposed the construction of a quadruple railway line between Karjat and Panvel. The Rs 4.92 billion project is designed to significantly improve commuting experiences for thousands of daily passengers in Navi Mumbai and Raigad, two regions witnessing rapid urbanisation.At present, the Karjat-Panvel corridor operates with only a single pair of tracks—one up and one down line—resulting in regular delays and severe overcrowding, particul..

Next Story
Infrastructure Transport

Southern Railway Speeds up Station Upgrades in Thiruvananthapuram

Southern Railway is advancing major development initiatives across key railway stations in Thiruvananthapuram, with completion targeted in the coming months.One of the major highlights is the transformation of Thiruvananthapuram North into a terminal station. This upgrade includes the construction of a new station building, installation of tactile paving for improved accessibility, two lifts, and platform shelters, all of which are expected to be completed by next month. Over the past three years, the station has already undergone significant improvements, including the raising of platforms, i..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?