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Ahmedabad: AMC reopens bids for 9 plots, aiming to raise over INR 1,000 crore in revenue

#Taxation & Finance News#India#Gujarat#Ahmedabad
Last Updated : 21st Apr, 2025
Synopsis

The Ahmedabad Municipal Corporation (AMC) has reopened registrations for nine high-value plots, including five residential and four commercial sites, with a collective base price of INR 920.48 crore. These plots, located in areas such as Bodakdev, Thaltej, Motera, Chandkheda, Shilaj, Vatva, and Nikol, were previously unsold due to limited bidder interest. AMC aims to attract more competitive bids this time, drawing optimism from a successful sale in June 2024, where LuLu International Shopping Malls Pvt Ltd acquired a plot in Chandkheda for INR 519.41 crore.

The Ahmedabad Municipal Corporation (AMC) has initiated fresh registrations for nine premium plots, comprising five residential and four commercial properties, collectively valued at a base price of INR 920.48 crore. Among these, two commercial plots near Sindhu Bhavan Road are jointly priced at INR 333.26 crore. AMC anticipates that the total revenue from these sales could reach INR 1,000 crore.


These plots are situated across various zones, including Bodakdev, Thaltej, Motera, Chandkheda, Shilaj, Vatva, and Nikol. In previous attempts, limited bidder participation led to the cancellation of sales. Notably, in June 2024, AMC offered 22 plots but managed to sell only six, garnering INR 174 crore. The sale of three plots in Shilaj, Bodakdev, and Motera, which received a single bid of INR 302 crore, was canceled due to lack of competition.

AMC officials are hopeful for better outcomes this time, inspired by the successful sale in June 2024, where LuLu International Shopping Malls Pvt Ltd purchased a plot in Chandkheda for INR 519.41 crore, exceeding the base price by INR 16.54 crore. This transaction remains AMC's most lucrative land deal to date.

The current offerings vary in size, with the largest plot in Motera spanning over 16,000 sq m and the smallest just over 960 sq m in the same locality. Pricing per square metre ranges from INR 40,000 for a residential plot in Vatva to INR 2.75 lakh for a plot in Thaltej.

The success of past high-profile sales, such as the LuLu International deal, underscores the potential for lucrative transactions. This initiative not only seeks to boost municipal revenues but also to stimulate further development in Ahmedabad's real estate sector.

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