Sabarmati Riverfront Development Corporation Limited (SRDCL) has decided to conduct the online auction of its riverfront buildings’ construction in Ahmedabad for the first time.
The auction will be of the volumetric land footprints of two buildings on the Riverfront. The online platform for the auction will be developed by Tata Consultancy Services (TCS). With this move, many international developers can participate in the auction and SRDCL will be more likely to find best options, says the senior official of SRDCL.
The Gujarat government has already approved the Sabarmati Riverfront Volumetric General Development Control Regulations (GDCR) which will allow volumetric development in the reach of developers.
The footprints represent the land area where the building can be built as per the proposed plan and volume envelope denotes the height of the constructed building. There are four 101-meter tall buildings out of 42 proposed on the Riverfront.
“The media plan for the SRFDCL auction is being readied and will be launched across the country by May. We will gauge the interests of investors in the project,” says the Official, SRDCL.
Source: ET Realty