The Ahmedabad Municipal Corporation (AMC) has generated Rs 365.8 crore through the online auction of two commercial plots located in the upscale Bodakdev area. This development follows the civic body's announcement earlier this year regarding the online auction of 19 residential and commercial plots. On Tuesday, five plots in Bodakdev, Thaltej, Motera, and Shilaj were put under the hammer. However, only the two plots in Bodakdev attracted bids; the plots in Thaltej, Motera, and Shilaj failed to find any takers.
Details of the Auctioned Plots
The first plot, designated as Final Plot No. 353/Part 1 under TP Scheme 50, spans 8,167 square meters. It was sold at a rate of Rs 2.52 lakh per square meter, which is marginally above its base price. The total transaction value for this plot amounted to Rs 205.9 crore, slightly exceeding its upset price of Rs 205.8 crore.
The second plot, Final Plot No. 353/Part 2 under TP Scheme 50, measures 5,085 square meters. It commanded a significantly higher bid of Rs 3.16 lakh per square meter, compared to its base rate of Rs 2.52 lakh per square meter. Situated behind Mango Hotel, this parcel sold for Rs 159.9 crore, well above its base price of Rs 127.5 crore.
Approval Process and Delays
The sale of both plots is subject to approval by the standing committee of the AMC. Notably, this committee has yet to be reconstituted following the recent municipal elections. The finalization of the sale process will occur once the new committee gives its nod. The auctions, initially scheduled for April, were postponed due to the enforcement of the model code of conduct during the elections.
Previous Auction Performance
In January, the AMC had successfully auctioned 11 plots, generating Rs 916.3 crore against a total upset price of Rs 811.8 crore. This earlier auction demonstrated strong demand for municipal land parcels.
The latest auction results underscore the continued interest in prime commercial real estate in Bodakdev, while other areas failed to attract bids. The AMC's online auction platform has enabled transparent and efficient price discovery for public assets.
