AMC generates around Rs 1000 Crore in 5 days from plot auctions, LuLu Group leads purchases

June 23, 2024
Ahmedabad Gujarat

Ahmedabad: Amdavad Municipal Corporation (AMC) generated around ₹1000 crore in revenue over five days by selling 10 plots through a public auction. Major companies, including LuLu Group, purchased these plots for commercial and residential development. The auction began on Tuesday and ten plots were sold above the upset value set by AMC.

AMC decided to sell 22 plots located in areas like SG Highway, Chandkheda, Motera, Nikol, Sheelaj, and Isanpur with an expected revenue of ₹2224 crore. From those plots, 10 plots in Chandkheda, SG Highway, Makarba, Nikol, Naroda, Isanpur, and Motera yielded ₹996.60 crore. The largest plot, measuring 66,168 square meters near Balaji Agora Mall on SP Ring Road, was acquired by Dubai-based Lulu Group.

The sale included plots for both commercial and residential purposes, promising rapid development in these areas. LuLu Group plans to construct the largest mall on their plot, which could raise surrounding property values.

The detailed auction results are as follows:

Plot Location

Plot Details

 Price (in crore ₹)

Buyer

Chandkheda

 TP 76-B, FP – 381+382+383+391+396

519.41 

 Lulu International Company

Bodakdev

TP 50, FP 379B  

126.69 

Niyogi Enterprises Pvt Ltd

Makarba

TP 84A, FP 96

68.44 

Tamir Infrastructure Pr

Makarba 

TP 84A, FP 102 

42.29 

RVR Homes LLP

Sheelaj 

TP 216, FP 93

166 

Durgesh Infrastructure

Nikol 

TP 103, FP 144

14.02 

Jaiswal World Wild LLP

Muthiya

TP 71, FP 53/2

18.72

SLN Constructions Co.

Motera

TP 21, FP 375

9.73

Pramukh Imaging Center

Isanpur 

TP 54, FP 154

26.25 

Avenue Super Market Limited

Narol

TP 56, FP 105 

5.04

Akar Builder

DeshGujarat

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