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The Ahmedabad Urban Development Authority (AUDA) has recently unveiled an audacious plan to initiate the auction of eight illustrious plots, collectively valued at Rs 561.28 crore. These coveted parcels of land are strategically positioned in the prestigious areas of Chandkheda, Bopal, Vejalpur, and Manipur-Godhavi. What makes this auction truly remarkable is the exceptional opportunity it presents for prospective buyers to acquire these prime plots at an extraordinary discount compared to their current market prices. The auction is scheduled to take place on June 30th and July 1st.
To ensure a meticulous assessment, AUDA assembled the eminent Land Disposable Price Fixing Committee on April 13th, assigning them the task of evaluating a total of 17 plots dispersed across the sought-after locales of Chandkheda, Bopal, Vejalpur, and Manipur-Godhavi. After a careful deliberation process, AUDA has decided to proceed with the auction of eight select plots at a total valuation of Rs 561.28 crore. This decision comes after the state government's recent decision to double the Jantri rates, effective April 15th.
The magnificent assortment of plots up for grabs includes two prestigious commercial plots in Vejalpur, boasting a combined base price of Rs 356.97 crore. Additionally, there are two equally captivating commercial plots in Manipur-Godhavi, being offered at a base price of Rs 60 crore, along with four residential plots in Chandkheda, intended for exclusive housing projects and carrying a base price of Rs 144.31 crore.
In an endeavour to maintain transparency and credibility, AUDA has made it mandatory for all potential bidders to submit their income tax returns for the preceding three fiscal years. Similarly, companies with a relatively shorter operational history of less than three years must furnish a valid registration certificate to be eligible for participation in this grand auction.
This bold and groundbreaking move represents a significant departure from conventional practices and marks the first instance where AUDA has implemented such stringent criteria by mandating the submission of income tax returns. D. P. Desai, the visionary CEO of AUDA, emphasized that in order to partake in this prestigious auction, prospective bidders must diligently provide their income tax returns for the past three fiscal years. Furthermore, companies that have been in operation for a minimum of three years must also furnish their registration certificates for a thorough evaluation.
He further stated that it will play a pivotal role in upholding the integrity of the auction process. Moreover, he expressed his confident anticipation that this highly anticipated auction will yield an impressive influx of revenue, which in turn will be judiciously channelled towards further enhancing and expanding the city's infrastructure.
With this alluring auction on the horizon, investors and developers find themselves on the threshold of an extraordinary opportunity. These coveted plots not only contribute to the urban landscape but also serve as a gateway to lucrative real estate investments. Seamlessly blending elegance and promise, this auction beckons visionaries to seize their chance to shape the future of the real estate realm.
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