AMC to Sell Shops, Offices in Sindhu Bhavan Road Parking Complex

Ahmedabad: The Amdavad Municipal Corporation (AMC) has decided to sell commercial units in its multi-level parking complex on Sindhu Bhavan Road through public auction, following repeated failures to attract interest for leasing the spaces on a 99-year basis.

The move is expected to open new avenues for entrepreneurs and investors to own premium commercial properties, while allowing AMC to recover revenue from the underutilised ₹315 crore facility that has remained largely vacant since completion.

The Standing Committee approved the proposal on Thursday, authorising the Municipal Commissioner to initiate the sale of shops and office units located on the first and fifth floors of the complex.

Constructed at a cost of over ₹315 crore, the facility was originally intended to ease traffic congestion and address parking challenges in the busy area. Parking spaces occupy the second, third, and fourth floors, while the ground, first, and fifth floors house 39 shops and 29 offices.

Earlier, AMC’s Land Price Fixing Committee had set lease rates based on land and construction costs. However, the initial lease auction received a tepid response — with only Manidhar Infrastructure expressing interest, and that too only for ground floor space.

This decision marks AMC’s renewed attempt to monetise unused commercial spaces and is expected to generate more than ₹150 crore in revenue from the sale. DeshGujarat