Ahmedabad plot auction results have set two new price records, with the Ahmedabad Urban Development Authority (AUDA) raising Rs 871.2 crore from the sale of three plots over three days. The transactions included the highest-ever total value for a single plot auctioned by AUDA or the Ahmedabad Municipal Corporation and the city’s highest recorded price per square metre for an AUDA commercial plot.
The auction was held from October 21 to 23, with 16 plots in Thaltej, Bopal, Chandkheda and Kathwada offered through e-auction. Only three plots attracted buyers, but the successful bids substantially exceeded their reserve values. The plots had a combined base price of Rs 1,415 crore.
The largest transaction involved a 73,428 sq m residential plot in Kathwada. A chemical group company purchased the land for Rs 697.5 crore, or Rs 95,000 per sq m. AUDA had set the base price at Rs 65,000 per sq m, giving the plot a reserve value of Rs 477.2 crore. The winning bid was therefore Rs 220.2 crore above the reserve price.
The Kathwada sale also surpassed the previous record held by the Ahmedabad Municipal Corporation. On June 18, 2024, the civic body sold a 66,168 sq m plot on the Sardar Patel Ring Road in Chandkheda for Rs 519.4 crore. That plot had a base price of Rs 76,000 per sq m and was eventually sold to a shopping mall company for Rs 78,500 per sq m after attracting three bidders.
A commercial plot in Thaltej set a separate record for price per square metre. The 2,581 sq m parcel was sold to a pharmaceutical company for Rs 105 crore, at Rs 4.07 lakh per sq m. Its base price was Rs 2.8 lakh per sq m and its reserve value was Rs 72.2 crore. The winning bid exceeded the reserve by Rs 32.7 crore.
The third successful sale took place in Bopal, where a private builder bought a 4,104 sq m commercial plot for Rs 68.6 crore. AUDA had valued the land at Rs 46 crore, based on a base price of Rs 1,12,300 per sq m. The final bid reached Rs 1,67,300 per sq m, generating an additional Rs 22.5 crore for the authority. The builder told the Times of India that the company planned to develop a commercial project on the land in the future.
The results show a sharp difference between the number of plots offered and the number sold. While three of the 16 parcels found buyers, the successful transactions generated substantial premiums over their reserve prices. The auction outcomes also place public land agencies at the centre of Ahmedabad’s expanding real estate market, where land monetisation can provide authorities with significant non-tax revenue.
A senior AMC official said the civic body had sold 30 plots over the past two years, generating Rs 3,134.9 crore. A senior office-bearer of CREDAI Ahmedabad attributed the strong bids to the city’s expanding infrastructure, education and employment opportunities, which continue to attract people from other cities and states. The AUDA results will now be placed before its board for approval, after which the sale deeds will be executed.
