Ahmedabad Municipal Corporation Greenlights Major Plot Auctions
The standing committee of the Ahmedabad Municipal Corporation (AMC) has given its official approval for the auction sale of six strategically located plots across various parts of the city. This significant decision, made on Wednesday, sets a cumulative base price of Rs 528.38 crore for the properties, marking a notable move in the local real estate market.
Details of the Approved Plots
The approved properties include a mix of commercial and residential plots, each with specific base prices per square meter. Among the highlights is a 3,365 square meter commercial plot in Motera, which has been fixed at a base price of Rs 2.81 lakh per square meter. Additionally, the committee cleared the sale of a 3,546 square meter residential plot in Chandkheda, pegged at a base price of Rs 1.63 lakh per square meter.
In Nava Vadaj, a 3,229 square meter commercial plot will be auctioned with a base price of Rs 2.67 lakh per square meter. Another commercial plot measuring 3,797 square meters in Thaltej was approved for sale at a base price of Rs 2.76 lakh per square meter.
The committee further sanctioned the auction of a 6,458 square meter commercial plot in Bodakdev, with a base price of Rs 2.66 lakh per square meter. Additionally, a 429 square meter residential plot in Thaltej will be sold with a base price fixed at Rs 2.9 lakh per square meter.
Implications for Ahmedabad's Real Estate
This auction approval by the AMC is expected to generate substantial revenue for the municipal corporation and could potentially boost real estate development in the highlighted areas. The diverse locations and plot types cater to both commercial and residential investors, reflecting a strategic approach to urban planning and economic growth in Ahmedabad.
The move aligns with broader trends in city development, as municipal authorities seek to optimize land use and attract investment through transparent auction processes. Stakeholders in the real estate sector are likely to monitor these auctions closely, given the prime locations and competitive base prices set for the plots.
