Sabarmati Riverfront Two Plots Up for Auction at Rs2.24 bn Base Price
ECONOMY & POLICY

Sabarmati Riverfront Two Plots Up for Auction at Rs2.24 bn Base Price

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.

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.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

KONE Opens India's First Digital Experience Centre in Pune

KONE, a global elevator and escalator manufacturer, has inaugurated its first Digital Experience Centre (DEC) in India, located in Pune. The facility aims to showcase how artificial intelligence (AI), connectivity and data-driven technologies can enhance customer experiences and improve building operations.The centre was inaugurated by Jussi Herlin, Executive Vice Chair, KONE Corporation; Philippe Delorme, President and CEO, KONE; and Nandan Nilekani, Co-founder and Chairman of the Board, Infosys.Designed as an interactive customer environment, the facility demonstrates digital solutions cover..

Next Story
Infrastructure Urban

CII GreenCo Launches Circularity Guidelines for Indian Industry

The Confederation of Indian Industry (CII) GreenCo Council has launched the CII GreenCo Circularity Guidelines – Pilot Version at the 17th CII GreenCo Waste & Resource Management Summit 2026 in Chennai. The initiative aims to strengthen resource efficiency, waste reduction and circular economy practices across Indian manufacturing and process industries.The guidelines introduce a structured framework with circularity indices covering raw materials, consumables, packaging and other resource inputs. These indicators will help industries assess existing practices, identify opportunities to ..

Next Story
Infrastructure Energy

Global Electronics Association Launches IPC-1783-CO2E Standard

The Global Electronics Association has introduced IPC-1783-CO2E, a new international standard aimed at improving consistency, transparency and comparability in product carbon footprint reporting across the electronics manufacturing industry.The standard, titled International Standard for Data Collection and Reporting of CO2 Equivalent (CO2e) Emissions for the Electronics Manufacturing Supply Chain, provides industry-specific guidance for collecting, estimating and reporting carbon emissions data.With increasing regulatory requirements and customer expectations, electronics manufacturers face c..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code