Ahmedabad’s Sabarmati Riverfront Development Corporation Limited (SRFDCL) is poised to initiate the auction of four strategic plots along the Sabarmati Riverfront, marking a significant step in the city’s urban development plans. After enduring protracted delays, the corporation is ready to realise the potential of these prime real estate assets.
Located in two distinct areas, the plots on the western side are situated near Vallabh Sadan, while those on the eastern side are close to Dudheshwar Dedhichi Bridge and Lemon Tree Hotel in Khanpur. The western plots span approximately 11,448 square metres, with development rights starting at a base price of INR 23,676 per square metre. Of these, the WGN-05 plot is approved for a maximum built-up area of 60,000 square metres and can reach a height of up to 66 metres, though the specifications for the other plot are still pending finalisation.
On the eastern front, the plots cover a combined area of around 7,143 square metres, with the base price set at INR 19,982 per square metre. The plot behind the Lemon Tree Hotel is earmarked for a 41,385 square metre built-up area and can rise to 67.25 metres. Meanwhile, the plot near Dadhichi Bridge is approved for a built-up area of 65,600 square metres, towering up to 76 metres. Enhancing the appeal and accessibility of the riverfront, a 6-metre-wide arcade along the riverside is proposed.
This auction is part of SRFDCL’s broader vision to develop 17 plots across seven designated value zones along the riverfront, covering a total area of 149,000 square metres. The initiative gained traction with the Gujarat government’s approval of the Sabarmati Riverfront Land Disposal Policy in October 2023, which laid the framework for these developments. The policy categorises riverfront land into value zones, setting base prices and ensuring a systematic approach to land management. SRFDCL’s journey towards this auction has been fraught with challenges. An attempt to auction 49 plots in 2021 failed primarily due to pricing disputes. Similarly, valuations conducted in 2016 for two plots on the western bank did not progress because the base prices were perceived as prohibitive.
In its renewed effort, SRFDCL plans to issue a Request for Proposal (RFP) for the four plots in the initial phase, followed by an auction of development rights. The base prices will be subject to review every three years, with the highest bid setting the new standard for that value zone. This framework is designed to attract developers while maintaining fair market value for the land. The Sabarmati Riverfront’s redevelopment holds immense promise for transforming Ahmedabad into a vibrant urban hub. The planned development is expected to not only boost the real estate market but also enhance public spaces and improve connectivity along the river. This initiative is seen as a catalyst for future investments and urban renewal projects, aligning with Ahmedabad’s goals of sustainable growth and improved livability.
