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HomeNewsReal EstateAMC to auction seven plots in Bodakdev, Thaltej, Vastral & Nikol

AMC to auction seven plots in Bodakdev, Thaltej, Vastral & Nikol

"The AMC auction involves a 99-year lease, so buyers who buy these plots will have to pay 18% GST as per norms. In all, GST of Rs 90 crore will have to be paid," says a senior Ahmedabad Municipal Corporation official.

The civic body has decided to auction seven plots in Bodakdev , Thaltej,Vastral and Nikol areas in the coming weeks. Ahmedabad Municipal Corporation(AMC) has clarified that it will charge 18% GST on the sale of the plots totalling Rs 499.72 crore.

The corporation issued an e-auction notice on Thursday. “The AMC auction involves a 99-year lease, so buyers who buy these plots will have to pay 18% GST as per norms. In all, GST of Rs 90 crore will have to be paid,” says a senior AMC official.

On May 7 last year, an auction for final plot 385 under TP Scheme 50 in Bodakdev was held. The area of the plot was 3,469 sq m, and the cost of this plot was fixed at Rs 65.21 crore back then.

Another adjoining plot, number 83, with an area of 8,060 sq m, was sold to a private company for Rs 151.76 crore during the auction. However, this plot auction was suddenly cancelled due to administrative issues. A similar auction in Nikol was cancelled. After one and a half years, one plot for commercial and 6 for residential purposes have been put up for sale.

In the auction announced on Thursday, the Bodakdev plot has been reserved for commercial purposes with a base price of Rs 2.28 lakh. The cost of this plot will be Rs 172.75 crore, which is the highest base price so far. In Thaltej’s T, a large AMC plot of 9,822 sq m will be auctioned for residential purposes. The price has been fixed at Rs 1.77 lakh with a total cost of Rs 174.63 crore.

A smaller Thaltej plot of 1,098sq m with a base price of Rs 1.4 lakh will also be auctioned.

Apart from this, three plots in Vastral and one in Nikol will be put on sale.

Recently, the AMC admitted that its financial condition was not good and required Rs 600 crore to take care of incidental expenses and carry out a few developmental works.

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