AHMEDABAD: A builder who bought a 963 sq m commercial plot in Motera through an Ahmedabad Municipal Corporation (AMC) auction has defaulted on depositing the 10% of the sale amount, leading the estate department to take steps to call off the deal.
The plot on Motera’s TP Scheme No. 21, was purchased by Pramukh Imaging Center for Rs 15.11 crore at a rate of Rs 1.57 lakh per sq m. The standing committee approved the sale proposal on Oct 30, 2024.
However, the bidder was required to deposit 10% of the amount within the first 10 days. The proposal to cancel the deal will be presented for approval at the standing committee meeting on Thursday. In March 2024, before the election code of conduct came into effect, AMC announced the sale of 22 plots — 14 commercial and eight residential — through public auction.
The base price was set at Rs 2,250 crore and the revenue estimated was Rs 2,500 crore. The largest and the most expensive plot, with a base price of Rs 502 crore, was located next to Balaji Villa Bungalows on SP Ring Road in Chandkheda. In June 2024, AMC sold six plots online for a total of Rs 937 crore against a base price of Rs 867 crore. Notably, a year before the auction, AMC sold the ground floor property of Sindhu Bhavan Multilevel Parking for Rs 80.46 crore. The bidder deposited Rs 8 crore (10% of the amount), but over a year passed without the remaining 90% being paid.
This Jan, the standing committee extended the payment deadline by six months to prevent the cancellation of this deal.
Source Homevior.in
