The e-auction of 15 Ahmedabad Municipal Corporation (AMC) plots has been cancelled. Sources claim that bidders who had participated were offering as low as Rs 300 to Rs 500 more than the quoted base price.
“We have held back the e-auction till the real estate market warms up. The time and date will be decided when demand scales. Apart from low bidding amounts, not many players were there to ensure competition, so we called the e-auction off ,” said a senior AMC official.
The civic body had put up 15 plots on sale of which only two had been sold till now. Earlier, the AMC had extended the auction registration time limit of other plots to July 1.
Among the 15 plots which were put on auction there were three plots in Thaltej, four in Bodakdev, two in Nikol, three in Vastral and three plots in Naroda-Hanspura-Kathwada areas.
Earlier in May, a plot in Bodakdev had fetched AMC Rs 77.04 crore. As many as 17 bidders had participated in the auction which measured 3,469 square metres. The minimum price of the plot was fixed at Rs 1.88 lakh per square metre totalling Rs 65.21 crore. AMC got Rs 77.04 crore which was 11.82 crore more than the fixed price.
In the following month, another prime plot in Bodakdev area fetched AMC Rs 151.76 crore. Only two bidders had participated in this auction. AMC had bagged Rs 228.81 crore from sales of these two plots.
“For now we have suspended e-auction. The auction will be held shortly as some of the promising budgeted projects worth Rs 320 crore have been put on hold , and will be taken up if we can manage some money for them from the plot sales,” said a senior AMC official.
