Ahmedabad's civic bodies, AUDA, AMC, and SRFDCL, are set to auction 21 plots before the Vibrant Gujarat Global Summit 2024, with expectations of raising Rs 3,000 crore in revenue. The most expensive plot, owned by SRFDCL, is valued at Rs 3.68 lakh per sq m. The 21 plots include 8 plots by AMC, AUDA's 11 plots, and SRFDCL's 2 plots. Despite challenges in previous auctions, interest from real estate firms is prominent. The Vibrant Gujarat Global Summit, established in 2003, remains a prestigious forum for business networking and sustainable development, with the 2024 edition focusing on key themes and national priorities.
Three of Ahmedabad’s civic bodies, namely the Ahmedabad Urban Development Authority (AUDA), Ahmedabad Municipal Corporation (AMC) and Sabarmati Riverfront Development Corporation Ltd (SRFDCL), are gearing up to announce the auction of 21 plots ahead of the Vibrant Gujarat Global Summit 2024.
The most expensive plot, owned by SRFDCL, is situated on the western stretch of the riverfront, and is valued at a base price of Rs 3.68 lakh per sq m. Among the 21 plots, eight belong to AMC, 11 to AUDA and the remaining two to SRFDCL, with an expected combined revenue of Rs 3,000 crore from the sale.
The AMC has granted approval for the sale of eight plots, six designated for commercial use and two for residential purposes. This proposal will be presented to the standing committee on December 22, with a total reserve price of Rs 835.77 crore. The most valuable plot in Bodakdev is priced at Rs 2.7 lakh per sq m and the AMC anticipates a revenue of Rs 333 crore from it. Another plot in Bodakdev has a base value of Rs 2.89 lakh per sq m, marking the highest price per sq m set by the AMC, with a minimum expected revenue of Rs 133 crore.
AUDA's 11 plots, located in Bopal, Chandkheda, and Vejalpur, are anticipated to yield approximately Rs 1,000 crore in revenue. Specifically, two plots near SP Ring Road in Chandkheda have garnered attention from leading real estate firms.
Following two meetings of AUDA's price-fixing committee in March and April 2023, the civic body decided to offer 18 plots for sale, establishing a base price of Rs 1,238.35 crore for 17 of them in May. However, an auction held in June and July for eight plots, with a total reserve price of Rs 561.28 crore, witnessed a lack of bidder interest in four plots, including the most expensive ones in Vejalpur. Only two plots in Manipur-Godhavi found buyers during the auction.
On December 6, the SRFDCL project committee established the base value for two plots: a 7,000 sq m plot near Vallabh Sadan, with a fixed price of Rs 3.65 lakh per sq m and a 20,000 sq m plot near NID with a price of Rs 3.08 lakh per sq m.
The Vibrant Gujarat Global Summit was initiated in 2003 and has evolved into one of India’s most esteemed global forums for business networking, knowledge sharing and strategic partnerships for inclusive growth and sustainable development. Scheduled for January 10th to 12th, 2024, the Vibrant Gujarat Global Summit 2024 will feature sessions on Gujarat’s Roadmap to Viksit Bharat @ 2047, an MSME conclave along with other highlights.
Various seminars and events will showcase Gujarat’s achievements, strengths across sectors and its readiness to lead the visions of Aatmanirbhar Bharat and Viksit Bharat @ 2047. The agenda aligns with national priorities and themes of G20 and I2U2, extending its impact at the state, national and international levels.
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