AHMEDABAD: After years of languishing on the drawing board, the Sabarmati Riverfront Development Corporation Limited (SRFDCL) is set to unlock the riverfront’s real estate potential with the first-ever request for proposal (RFP) for four prime plots.
The two plots in the western section have been identified near Vallabh Sadan, while the eastern section will see the development of plots near Dudheshwar Dadhichi Bridge and Lemon Tree Hotel in Khanpur.
The total area of the two plots near Vallabh Sadan is approximately 11,448 square metres, with a base price of Rs 23,676 per square metre for development rights.
Of these two, the built-up area for one of the plots has not been finalized. “The maximum built-up area for the second plot marked WGN-05 near the Metro track is 60,000 sq m with a maximum permissible height of 66 metres,” said the official.
Similarly, on the eastern side of the river, two plots of a combined area of 7,143 sq m have been earmarked. The base price for these plots is Rs 19,982 per square metre.
A 3,043 sq m plot behind Lemon Tree will have a 41,385 sq m built-up area, reaching 67.25 metres high. Another 4,100 sq m plot near Dadhichi Bridge will have a 65,600 sq m built-up area, touching 76 metres in height. Both are part of SRFD Phase I.
“A 6-metre wide arcade along the riverside is also proposed, further enhancing the connection with the river,” said a senior SRFDCL official.
This move is part of the SRFDCL’s broader plan to develop 17 plots across seven value zones along the riverfront, spanning a total area of 1.49 lakh square metres. The Gujarat govt had earlier approved the Sabarmati Riverfront Land Disposable Policy in October 2023, paving the way for this development.
The policy divides the riverfront land into eight value zones and sets base prices for development rights in each zone. Following a revision in Jan 2024, the number of value zones was reduced to seven.
“We will be issuing an RFP, followed by an auction, for the development rights of these four plots in the first phase. The base price will be revised every three years. The plot that fetches the highest bid will set a new base price for that value zone,” said a senior official.
The SRFDCL has been exploring the auction of riverfront plots for the past six years but has faced several hurdles.
A previous attempt to auction 49 plots in 2021 was unsuccessful. Similarly, an earlier valuation of two plots in the western section in 2016 did not yield the desired results due to high base prices.
