In Ahmedabad, the Ahmedabad Urban Development Authority (AUDA) held an auction for 17 shops located in Zundal-Koteshwar on June 26 and June 27. This auction was highly successful, generating a total income of ₹10.78 crores. The initial reserve price set by AUDA for these shops was ₹4.62 crores. However, the final bids exceeded expectations, leading to an additional income of ₹6.19 crores for AUDA.
Originally, this auction was scheduled for June 19, but it was postponed due to a tragic plane crash that occurred in Meghani Nagar. The 12 shops in Zundal were auctioned on June 26, while 5 shops in Koteshwar-Motera were auctioned the following day. The bidding process was open from May 21 until June 13, allowing enough time for interested buyers to place their bids.
For the Zundal shops numbered 1 to 9, the starting bid was around ₹33 lakhs. The highest offers ranged between ₹64 lakhs and ₹79 lakhs. For shops numbered 7 to 12, the bids started at ₹29.98 lakhs, with the highest offers reaching between ₹61 lakhs and ₹75 lakhs. In Koteshwar-Motera, the starting price for the 5 shops was set between ₹16.64 lakhs and ₹17.64 lakhs, generating highest bids from ₹48 lakhs to ₹58 lakhs.
This successful auction is a significant boost for AUDA, reflecting the growing demand for commercial properties in the region. The auction also highlights the potential of real estate investment in Ahmedabad, attracting both local and out-of-state investors. As urban development continues to expand, such initiatives by AUDA will likely become more common, providing opportunities for businesses and contributing to the local economy.
Overall, the AUDA auction for the Zundal-Koteshwar shops not only surpassed expectations but also showcased the vibrant real estate market in Ahmedabad. The interest in these properties indicates a strong economic outlook for the area, making it an attractive destination for future investments.
Leave a Reply