Two Sabarmati Riverfront Plots Up for Auction at ₹224 Crore Base Price

Ahmedabad: Two commercial plots on the western bank of the Sabarmati Riverfront are set to be auctioned, with a base price of ₹112 crore each. Located near the Metro Rail Bridge, the plots have a combined base value of ₹224 crore, which could rise depending on competition during the online auction.

The Sabarmati Riverfront Development Corporation has set a base rate of ₹3.50 lakh per sq m. Each plot measures 3,200 sq m and has a permitted built-up area of around 43,154 sq m, with construction of up to 66 metres allowed.

The online auction is scheduled for September 2. Bidders will have to deposit ₹11.22 crore as earnest money.

The auction marks the revival of the Riverfront Corporation’s commercial plot sales after a prolonged pause caused by a dispute over old-condition and new-condition land. Following the resolution of the issue at the state government level, the corporation has decided to restart commercial plot sales in phases, with the two plots near the Metro Rail Bridge forming the first batch.

The state government has also approved the sale method and pricing mechanism for commercial plots along the Sabarmati Riverfront. DeshGujarat