Civic Body To Auction Off 8 Plots In Jan, Real Estate News, ET RealEstate

January 1, 2024
1 min read
ahmedabad civic body to auction off eight plots in january 2024

<p>Representative Image</p>
Representative Image

AHMEDABAD: The civic body announced the dates of auction of eight plots that includes a Bodakdev plot valued at Rs 333.14 crore.

After an unsuccessful attempt to auction plots in February this year, the civic body had on November 29 decided to auction eight new plots once again.

These include six for commercial use and two for residential use, most of which are in the western area of the city. The total reserve price for these eight plots is fixed at Rs 835.77 crore.

The Ahmedabad Municipal Corporation (AMC) on Wednesday announced that the bidders will have to register by January 17 and submit their bids by January 23.

The three-day online auction will be held from January 29–31 on the dedicated auction portal. The civic body will auction three plots each on January 29 and 30, while the remaining two plots will be auctioned on January 31.

The highest price tag for an AMC commercial plot is for the one near @Mango off Sindhu Bhavan Road in Bodakdev ward, which has a reserve price of Rs 333.14 crore. This 13,222 sq m plot has a reserve price of Rs 2.52 lakh per sq metre.

Another commercial plot, adjacent to Rajpath Club in Bodakdev ward, is spread over 4,626 sq m and has a base rate of Rs 2.89 lakh per sq m — the highest rate ever demanded by the AMC for a commercial plot.

A third plot in Bodakdev, proposed for auction, is behind the Under The Neem Trees restaurant, which has a base price of Rs 125.76 crore. In February, the AMC had announced a similar auction for seven plots with a cumulative base price of Rs 499.72 crore, but not a single plot got sold.

AMC expects to garner about Rs 1,000 crore from the sale of these plots.

  • Published On Dec 28, 2023 at 11:00 AM IST

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