AUDA Sells 3 Ahmedabad Plots for ₹871 Crore; Bids Exceed Base Prices by Up to 49%

Ahmedabad: Prime land parcels in Ahmedabad have attracted aggressive bidding, with three plots auctioned by the Ahmedabad Urban Development Authority (AUDA) fetching a combined ₹871.25 crore, significantly exceeding their respective base prices.

The highest-value transaction involved a 73,428-sq-metre plot in Kathwada-Nikol, which was sold for ₹697.5 crore, or ₹95,000 per sq metre, against a base price of ₹477.2 crore, or ₹65,000 per sq metre. The successful bid was around 46% above the reserve price.

Orixien Energy, part of the Kiri Dye-Chem Group, acquired the land, marking the group’s entry into real estate development. The plot’s access from four roads and the area’s expanding development activity were among the factors behind the acquisition. The plot is designated for residential development.

The second major transaction involved a 2,581-sq-metre plot in Thaltej, which was acquired by pharmaceutical company Intas Pharma for approximately ₹105 crore. The land fetched around ₹4.07 lakh per sq metre, compared with a base price of ₹2.80 lakh per sq metre, representing a premium of about 45%.

The plot is adjacent to the company’s existing office, making it strategically significant for its future requirements. The transaction also underscores the willingness of corporate buyers to pay a premium for smaller land parcels that offer location-specific advantages.

In South Bopal, Ahmedabad-based Iscon Group purchased a 4,104-sq-metre commercial plot opposite Sun South Street for approximately ₹68.6 crore. The winning bid of ₹1.67 lakh per sq metre was nearly 49% higher than the base price of ₹1.123 lakh per sq metre. DeshGujarat