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For the first time, the Sabarmati Riverfront will witness a mixed-use development project that combines residential apartments and commercial spaces. The Sabarmati Riverfront Development Corporation Limited (SRFDCL) has invited proposals for the sale of development rights for a strategically located 5,710 sq m plot near Keshav Nagar on the river's western bank. The project will include commercial spaces up to four floors and residential units above, with a height cap of 52.17m. The base price for the rights is INR 128.80 crore, with bids closing by the end of January 2025. The project is expected to be completed within four years.
The Sabarmati Riverfront is set to host its first-ever mixed-use development project, marking a significant milestone in the area's transformation. This initiative will feature a blend of residential apartments and commercial spaces, enhancing the riverfront's appeal as a dynamic urban hub. Advertisement
The Sabarmati Riverfront Development Corporation Limited (SRFDCL), an entity established by the Ahmedabad Municipal Corporation (AMC), has issued a Request for Proposal (RFP) to sell development rights for the project. The plot, spanning 5,710 sq m, is situated near Keshav Nagar, strategically located between the Railway Overbridge and Subhash Bridge on the river's western bank.
The proposed design envisions commercial spaces on the ground and four upper floors, with residential units occupying the higher levels. According to the General Development Control Regulations of SRFDCL, the project's maximum permissible volumetric development is set at 59,384 sq m, and the structure's height cannot exceed 52.17m.
The base price for development rights has been fixed at INR 21,691 per sq m of built-up area, totalling INR 128.80 crore for the entire project. To participate in the bidding, agencies must deposit 10% of the amount, equivalent to INR 12.88 crore. Interested bidders have until the end of January 2025 to submit their proposals, with technical and qualification evaluations scheduled shortly after. The development is projected to be completed within four years of receiving the letter of allotment (LOA).
A senior SRFDCL official highlighted the plot's prime location near key transit hubs, including BRT, metro, and the upcoming bullet train network. Its proximity to the new Olympic complex further enhances its strategic value, making it an attractive investment for developers.
The upcoming mixed-use development project on the Sabarmati Riverfront is a testament to the region's evolving urban landscape. With its prime location and thoughtfully planned structure, this project has the potential to become a landmark development in Ahmedabad. By combining residential and commercial spaces, it promises to cater to modern urban living and business needs. With strategic connectivity and a favourable location near major transit networks, the development is poised to attract significant interest from investors and developers alike.
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