The Ahmedabad Municipal Corporation (AMC) has announced the auction schedule for eight plots, including a prominent Bodakdev plot valued at Rs 333.14 crore. After an unsuccessful February auction, the re-auction includes six commercial and two residential plots with a collective reserve price of Rs 835.77 crore. Bidders must register by January 17, with the online auction scheduled for January 29–31. The AMC expects to raise about Rs 1,000 crore from these plots, showcasing a strategic effort to leverage real estate potential, attract diverse investors, and contribute to Ahmedabad's overall growth.
The Ahmedabad Municipal Corporation (AMC) has unveiled the auction schedule for eight plots, which prominently features a Bodakdev plot valued at Rs 333.14 crore. Following an unsuccessful attempt to auction plots in February, the civic body decided to re-auction eight new plots, six earmarked for commercial use and two for residential purposes. Most of the plots are situated in the western area of the city. The collective reserve price for these plots has been fixed at Rs 835.77 crore. Interested bidders must register by January 17 and submit bids by January 23. The three-day online auction is set to take place from January 29 to 31.
The AMC plans to auction three plots each on January 29 and 30, with the remaining two plots scheduled for January 31. The most noteworthy commercial plot, situated near Mango off Sindhu Bhavan Road in Bodakdev ward, boasts a reserve price of Rs 333.14 crore. Covering 13,222 square meters, the plot commands a reserve price of Rs 2.52 lakh per square meter. Another commercial plot, adjacent to Rajpath Club in Bodakdev ward, spans 4,626 square meters and commands a base rate of Rs 2.89 lakh per square meter—the highest rate ever demanded by the AMC for a commercial plot. A third plot in Bodakdev is located behind the Under the Neem Trees restaurant and has a base price of Rs 125.76 crore.
Apart from the three plots in Bodakdev, the auction will encompass five additional plots situated in Makarba, Thaltej, Vatva, and Vejalpur. The reserve prices for these plots vary, ranging from Rs 18.99 crore to Rs 99.85 crore. Notably, among them are two residential plots located in Makarba and Thaltej, each carrying reserve prices of Rs 18.99 crore and Rs 111.7 crore, respectively.
In February, the AMC announced a similar auction for seven plots with a cumulative base price of Rs 499.72 crore, but none of the plots were sold during that round. The civic body expects to generate approximately Rs 1,000 crore from the sale of these plots. This strategic move by the AMC signifies a renewed effort to leverage the real estate potential within the city.
By allowing both residential and commercial plots to be part of the auction, the AMC aims to attract a diverse range of investors and developers, contributing to the overall growth and development of Ahmedabad. As the AMC navigates the complexities of the real estate market, these auctions serve as a strategic approach to unlocking the inherent value of its land holdings, bolstering its financial position, and catalyzing urban development initiatives.
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