Ahmedabad: This is certainly not a good news for Sabarmati Riverfront Development Corporation Limited (SRFDCL). The auction of development rights for two plots on the Sabarmati Riverfront has been postponed for at least three months. Because of the uncertainty in the realty market, owing to declaration of Real Estate (Regulation and Development) Act (RERA) rules and the transition to GST regime SRFDCL didn’t get even a single bidder even as the process for online registration ended on June 5. As per the schedule a mock online auction round was to be held on June 14/15 and the final auction on June 21/22. However due to slow market, new GST regime and RERA rules the board opined that government should not take chances with risks associated with litigations and disputes after the auction has taken place. SRFDCL will now wait for market to stabilize. A 1,280 sq m plot near Nehru Bridge was to be auctioned for a 99 year lease at Rs 7.86 lakh per sq m and it was expected to fetch a minimum of Rs 100.64 crore.The plot has been granted FSI of 17, one of the highest. The second plot, near Gandhi Bridge, measuring 2,240 sq m, was to be auctioned at a minimum rate of Rs2.96 lakh per sq m with an FSI of 6. Gujarat cabinet had on May 3 given the nod for auctioning of the plots for commercial purposes. The state government and SRFDCL will now have to to alter the conditions of bidding and it is likely that the GDCR for the same may also be changed before floating the bid again.