Ahmedabad civic body sells two commercial plots for Rs 92 crore

AHMEDABAD: AMC which aimed to raise more than Rs 700 crore through the e-auctioning of five plots in the city, managed to raise just Rs 306 crore, as two plots on offer had no takers.

On Friday, the civic body auctioned off two plots, one on Sola Road and another in Nikol.

The Sola Road plot was sold to Avenue Supermarkets, of Thane, which operates the D-Mart brand. It bid Rs 64.69 crore or Rs 1.08 lakh per sq m, against the base price of Rs 51.37 crore or Rs 86,000 per sq m. The plot in Nikol was auctioned to A V Builders for Rs 28.23 crore or Rs 77,700 per sq m, against the base price of Rs 20.75 crore or Rs 57,120 per sq m.

Two plots went unsold at e-auctions on Friday. A 13,222 sq m plot off the posh Sindhu Bhavan Road, — where commercial plots have sold for prices between Rs 1.7 lakh and Rs 2.5 lakh per sq m last year — did not get any bids.

Bidders were online, but remained inactive as the AMC set a base price of Rs 1.59 lakh per sq. m. A 15,351 sq m plot on Science City Road offered at a base price of Rs 1.59 lakh per sq m also did not find takers.

On Thursday, a plot in Bodakdev was auctioned for Rs 213 crore.

Source: https://realty.economictimes.indiatimes.com/news/commercial/ahmedabad-civic-body-sells-two-commercial-plots-for-rs-92-crore/74027300

February 08, 2020

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