Dedicated locality research platform
Enter your email address and you will receive
a link to reset your password
Ahmedabad Municipal Corporation (AMC) is gearing up for a fresh round of auctions as it plans to sell approximately 150 plots measuring less than 2,000 square meters. This decision follows a lukewarm response to the AMC's past efforts to monetize larger plots in its February 2023 auction, where seven plots with a combined base price of INR 499.72 crore failed to attract significant interest.
City officials revealed that potential buyers have shown a preference for smaller plots suitable for constructing bungalows or compact corporate offices. In response to this market demand, the AMC's standing committee has directed officials to assess and prepare 10 to 15 smaller plots, each less than 2,000 square meters, for sale in the western parts of the city within the next two weeks.
The initiative originated from the AMC's recent attempt to auction eight plots, comprising six commercial and two residential properties. The auction, which began on December 27, included a high-value plot in Bodakdev TP Scheme 50 with a base rate of INR 2.70 lakh per square meter and a reserve price of INR 133 crore. However, the bidders demonstrated a stronger interest in smaller plots during the online registration process, which concluded on January 17.
The AMC's previous attempts to auction prime plots, including those on Sindhu Bhavan Road in 2021 and seven plots in February 2023, faced challenges with minimal bidder interest and unsuccessful transactions. The municipal corporation is now adjusting its approach to adapt to the evolving preferences of potential buyers in the real estate market.
A senior AMC official disclosed that there was a notable preference for three smaller plots, ranging from 2,000 to 4,100 square meters, located in Saijpur Bogha and Vatva. Additionally, in the western parts of the city, a 4,062 square meter residential plot in Thaltej and a 3,977 square meter commercial plot in Makarba garnered increased bidder registrations. The online auction for these smaller plots is scheduled to take place on January 29, 30, and 31.
In response to these developments, the standing committee has advised creating a list of plots smaller than 2,000 square meters that can be put up for sale. This strategic move aims to align with the current market demand and maximize participation in future auctions.
Propscience is India’s dedicated property news portal. We cover the latest events, news, trends, deals, new launches and more.
All our services and tools are completely free of cost and available 24X7!
We use cookies to give you the best possible service while using our website, please click accept and carry on browsing if you're happy with this. For more information see our Privacy Policy.
Okay, Got it!This disclaimer ("Disclaimer") is applicable to the entire Site. Upon entering the Site it is recommended that you immediately read the Terms and Conditions and Privacy Policy listed therein. Your continued usage of this Site will indicate your unconditional acceptance of the said Terms and Conditions and Privacy Policy. You hereby agree that Propscience reserves the right to modify at any time, the Terms and Conditions and Privacy Policy governing this Site without prior notification. Your usage of the Site implies that you will be bound by any such modification. You agree and acknowledge that it is your responsibility to periodically visit the Site and stay updated with the Terms and Conditions and Privacy Policy of the Website.
The information contained in this Site has been provided by Propscience for information purposes only. This information does not constitute legal, professional or commercial advice. Communication, content and material within the Site may include photographs and conceptual representations of projects under development. All computer-generated images shown on the Site are only indicative of actual designs and are sourced from third party sites.
The information on this Site may contain certain technical inaccuracies and typographical errors. Any errors or omissions brought to the attention of Propscience will be corrected as soon as possible. The content of this Site is being constantly modified to meet the terms, stipulations and recommendations of the Real Estate Regulation Act, 2016 ("RERA") and rules made thereunder and may vary from the content available as of date. All content may be updated from time to time and may at times be out of date. Propscience accepts no responsibility for keeping the information in this website up to date or any liability whatsoever for any failure to do so.
While every care has been taken to ensure that the content is useful, reliable and accurate, all content and information on the Site is provided on an "as is" and "as available" basis. Propscience does not accept any responsibility or liability with regard to the content, accuracy, legality and reliability of the information provided herein, or, for any loss or damage caused arising directly or indirectly in connection with reliance on the use of such information. No information given under this Site creates a warranty or expands the scope of any warranty that cannot be disclaimed under applicable law.
This Site provides links to other websites owned by third parties. Any reference or mention to third party websites, projects or services is for purely informational purposes only. This information does not constitute either an endorsement or a recommendation. Propscience accepts no responsibility for the content, reliability and information provided on these third-party websites. Propscience will not be held liable for any personal information of data collected by these third parties or for any virus or destructive properties that may be present on these third-party sites.
Your use of the Site is solely at your own risk. You agree and acknowledge that you are solely responsible for any action you take based upon this content and that Propscience is not liable for the same. All details regarding a project/property provided on this Site are updated on the basis of information available from the respective developers/owners/promoters. All such information will not be construed as an advertisement. To find out more about a project / development, please register/contact us to visit the site you are interested in. All decisions taken by you in this regard will be taken independently and Propscience will not be liable for any such loss in connection with the same. This Site is for guidance only. Your use of this Site - including any suggestions set out in the Site and or any use of the resources available on this Site, do not create any professional - client relationship between you and Propscience. Propscience cannot accept you as a client until certain formalities and requirements are met.
We use cookies to give you the best possible service while using our website, please accept it and continue browsing if you're happy with this. For more information see our Privacy Policy