Ahmedabad Municipal Corporation (AMC) has struck a landmark deal in its land e-auction, by finalising the sale of its most expensive plot of land for a whopping Rs 3.20 lakh per square metre.
This is being said to be the highest price ever for any civic body-owned land parcel.
The plot lies just opposite Rajpath Club.
AMC sources said the e-auction was highly competitive for the three commercial plots in Bodakdev, but bidders locked horns for the prime location opposite Rajpath Club.
Gujarat Tea Processors and Makers Limited snatched the deal, shelling out Rs 148 crore for the 4,626 square metre property. Notably, this deal surpassed the previous record set in May 2021, where AMC’s Bodakdev plot went for Rs 1.88 lakh per sq metre.
Of the total eight plots, six are commercial plots and two residential plots.
The total upset value of the eight plots is Rs 835.77 crore. While bids flew fast for the Rajpath Club-facing plot, the other two commercial plots in Bodakdev saw no takers.
One of the plots, with an area of 3,469 square metres, was priced at Rs 2.70 lakh per square metre. The other plot, which has an area of 2,520 square metres, was priced at Rs 2.52 lakh per square metre. However, with five more plots up for grabs in Tuesday e-auction, officials remained optimistic.
“This is a remarkable outcome as we have been struggling for many months to sell such large land parcels,” said an AMC official.
The AMC’s e-auction on Monday saw a diverse mix of buyers, with residential plots in Thaltej and Ghatlodia attracting healthy bids. Notably, the final plot of TP Scheme 50 in Bodakdev, initially valued at Rs 333 crore, failed to attract bidders’ interest.