Ahmedabad Civic Body Earns ₹365.8 Crore from Auction of Two Commercial Plots in Bodakdev

Ahmedabad, May 7: Ahmedabad Municipal Corporation generated Rs 365.8 crore from the online auction of two commercial plots in Bodakdev. One plot sold for Rs 205.9 crore, while another fetched Rs 159.9 crore, exceeding their base prices. The deals await standing committee approval following recent municipal elections.

Plot Details and Sale Value

Final Plot No. 353/Part 1, TP Scheme 50 measuring 8,167 sq m was sold for Rs 2.52 lakh per sq m, slightly higher than its base price. The total deal value stood at Rs 205.9 crore, marginally higher than its upset price of Rs 205.8 crore.

The second plot, measuring 5,085 sq m (Final Plot No. 353/Part 2, TP Scheme 50), fetched a significantly higher bid of Rs 3.16 lakh per sq m against the base rate of Rs 2.52 lakh per sq m. The parcel, located behind Mango Hotel, sold for Rs 159.9 crore against the base price of Rs 127.5 crore.

Auction Background

The civic body had announced online auctions of 19 residential and commercial plots earlier this year, following which five plots in Bodakdev, Thaltej, Motera and Shilaj went under the hammer on Tuesday. There were no takers for the Thaltej, Motera and Shilaj plots. The auctions, initially scheduled for April, were postponed due to the enforcement of the code of conduct.

Approval Pending

The sale of both plots is subject to approval by the standing committee, which is yet to be reconstituted after the recent municipal elections. The sale process will be finalized once the new committee okays the deals. In January, AMC had auctioned 11 plots, generating Rs 916.3 crore against a total upset price of Rs 811.8 crore.