AHMEDABAD: The highly anticipated Ahmedabad Urban Development Authority (Auda) plot sale in Bopal ended in a damp squib on Wednesday as it yielded meagre returns.
Despite hopes of raking in big bucks, Auda managed to secure bids for only two plots, and even these bids exceeded the base price by Rs 100 and Rs 200 per sq m. The Auda is now confused and uncertain on whether to proceed with the sale at these rates.
Adding to the perplexity, Auda officials are now uncertain about the fate of the remaining three plots, as the received bids fell significantly short of their initial expectations. “The total value of these plots was pegged at Rs 173.23 crore, but bidders were only willing to shell out Rs 26 lakh more,” a senior Auda official admitted.
The auction involved 11 plots spread across Vejalpur, Chandkheda, and Bopal, with six Bopal plots going under the hammer on Wednesday. “The two plots that did sell witnessed almost no competition, with only one or two companies vying for them,” said an Auda official.
Senior officials at Auda have chosen to remain tight-lipped regarding the number of participating bidders and the identities of successful bidders. Auda CEO D P Desai said the fate of the three remaining plots would be decided in the coming days.
