In an attempt to monetize its plots, the Ahmedabad Municipal Corporation (AMC) is now planning to auction off about 150 plots that are smaller than 2,000 square metres. According to the officials buyers are more interested in smaller plots for bungalows or smaller corporate offices.
The AMC saw limited interest in Feb 2023 auction, where seven plots with a cumulative base price of Rs 499.72 crore were up for grabs. The AMC’s standing committee recently instructed officials to evaluate 10 to 15 plots smaller than 2,000 square metres for sale in the western parts of the city within a fortnight.
The idea came from AMC’s attempt to auction eight plots – six commercial and two residential – the process for which began on Dec 27. The most expensive plot was in Bodakdev TP Scheme 50 and had a base rate of Rs 2.70 lakh per square metre or a reserve price of Rs 133 crore. However, the bidders who registered for the online auction were more interested in the smaller plots.
“The registration closed on Jan 17 and reflected that there were more bidders for the three smaller plots – between 2,000 and 4, 100 square metres – two in SaijpurBogha and the third in Vatva.
In the western parts of the city, a 4,062 sq m residential plot in Thaltej and 3,977 sq m commercial plot in Makarba saw more bidders register,” a senior AMC official said. The online auction will be held on January 29, 30 and 31.
“The standing committee suggested that a list be made of plots smaller than 2,000 sq m that can be sold,” an AMC official said.
The AMC’s attempts in 2021, to sell prime plots on Sindhu Bhavan Road failed as it received only a bid marginally higher than the reserve price of Rs 151.52 crore. On May 7, 2021, the AMC held another auction for a plot in Bodakdev. That plot covered 3,469 sq m and had a base rate of Rs 1.88 lakh per sq m, for a reserve price cost of Rs 65.21 crore. It sold for Rs 77.04 crore, or Rs 11.82 crore higher. AMC’s attempt in Feb 2023 to auction seven plots for Rs 499.72 crore found no bidders.
