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A Riverbank Reimagined
The Sabarmati River, once seen as a quiet divider between East and West Ahmedabad, has undergone a transformation that few could have predicted two decades ago. Where once only neglected ghats and silted banks stood, now flourish manicured promenades, cycle paths, and the ambitious skyline of a city in motion.
This is no ordinary stretch of land. The Sabarmati Riverfront Project, initiated by the government in the early 2000s and executed through SRFDCL (Sabarmati Riverfront Development Corporation Limited), was envisioned to be a model of urban rejuvenation — but over time, it has become something even more profound: a symbol of modern, monetized urban planning.
Now, in 2025, this same land is commanding staggering prices at auction — not for public works, but for commercial real estate development. The riverfront has become Ahmedabad’s most coveted real estate zone, and the numbers now tell a story that blends ambition, policy, and economic transformation.
The Rise of a Commercial Powerhouse
In recent months, developers from across India — including some of Mumbai’s biggest real estate tycoons — have battled fiercely for exclusive riverfront plots . These are not just any parcels of land. They are strategically located zones with pre approved permissions for high end commercial activity: hotels, malls, office towers, and luxury mixed use projects.
In total, around 2.42 lakh square meters of riverfront land were auctioned — equivalent to more than 60 football fields. The land was divided into zones, each holding its own commercial charm:
| Zone | Area (sq.m.) | Dev. Rights Base Price (₹/sq.m.) | Total Base Price (₹) |
| Opposite Event Centre | 29,386 | ₹22,647 | ₹66.5 crore |
| New Vallabh Sadan | 27,934 | ₹36,968 | ₹106.5 crore |
| Behind Torrent Power (Near RTO) | 48,694 | ₹21,691 | ₹105.6 crore |
| Near Vallabh Sadan | 11,054 | ₹24,750 | ₹27.3 crore |
| Near Purohit House | 35,245 | ₹19,982 | ₹70.4 crore |
| Behind Lemon Tree Hotel | 17,000 | ₹20,883 | ₹35.4 crore |
| Behind Jagannath Temple | 5,900 | ₹16,172 | ₹9.5 crore |
Each of these zones witnessed intense bidding — with some plots fetching far above the base price, as developers fought to secure their foothold in Gujarat’s most prestigious urban development.
The plot near the Torrent Power office, the largest in area, attracted a top bid worth nearly ₹1,400 crore, reportedly from a Mumbai based luxury hotel chain. This figure wasn’t just high — it set new benchmarks for real estate pricing in Ahmedabad.
Public Policy Meets Private Profit
But amidst this land rush, a powerful policy decision changed the game: the Gujarat Government’s 2025 Urban Revenue Circular.
According to this resolution, 50% of the proceeds from all riverfront development rights sales will now go to the state government — specifically, the Urban Development Department. This bold policy mandates that any premium bid (above the base price) will be equally shared between SRFDCL and the State Treasury.
Let’s break that down:
If a plot has a base value of ₹100 crore and receives a top bid of ₹300 crore, the ₹200 crore premium will be split equally — 50% to the government, 50% to the Developers.
This isn’t just accounting. It’s policy innovation. The government is reclaiming public value from land appreciation ensuring that taxpayers and city residents benefit from what is essentially publicly upgraded land.
Why Developers Are Chasing the Riverfront
To understand why developers are ready to spend over ₹100 crore on a single riverfront plot, consider this:
- Infrastructure is already in place : Roads, water, drainage, electricity — all are plug and play.
- Location is unbeatable : The riverfront offers rare open views in a dense city.
- Brand value : Just having a commercial address on Sabarmati riverfront elevates the brand.
- Regulatory fast tracking : Development permissions are pre cleared by SRFDCL, reducing red tape.
These benefits are especially attractive to developers aiming to build:
- Luxury hotels for domestic and foreign tourists.
- Premium office spaces for tech companies and startups.
- Commercial retail hubs for brands expanding in Gujarat.
Not All Smooth Sailing
While most auctions went smoothly, one high profile plot near Vallabh Sadan saw controversy. A developer submitted the highest bid but later withdrew , citing ambiguity in construction norms and unclear timelines for approvals. The auction was canceled, highlighting the importance of transparency and pre disclosure in land sales.
This incident, though isolated, served as a reminder that governance and policy clarity remain as important as pricing in mega land deals.
A New Urban Blueprint for India?
Ahmedabad’s riverfront auctions and the 50% policy are now being watched closely by urban planners across India. Other cities like Pune, Hyderabad, and even parts of Delhi are exploring waterfront or transit corridor monetization, but none have achieved Gujarat’s balance of public benefit and private investment .
The model blends:
- Urban transformation
- Public revenue generation
- Transparent, competitive bidding
- Strong demand from developers
If executed with long term planning, these funds can be channeled back into housing, infrastructure, education, and more fulfilling the promise of urban renewal not just visually, but economically and socially.
Conclusion: More Than Land A Legacy
What began as a beautification effort along the Sabarmati has now become a financial engine for Gujarat’s urban ambitions. The story of these plot sales is not just about numbers , it’s about vision.
It shows us that cities are not just built with concrete and steel. They’re built on policies, people, and purpose.
And in Ahmedabad, the golden mile along the Sabarmati River is no longer just a dream.
It is a living, earning, thriving legacy for today, and for generations to come.
