The Sabarmati Riverfront Development Corporation Limited (SRFDCL) is expected to issue its first-ever request for proposal (RFP) for four prime plots located on both the west and east banks of the river. These plots are designated for a range of developments, including retail outlets, malls, office spaces, restaurants, cafes, and hospitality services.
Two plots on the western side are situated near Vallabh Sadan, while the eastern plots are near Dudheshwar Dadhichi Bridge and Lemon Tree Hotel in Khanpur.
According to a newspaper report, the combined area of the two western plots near Vallabh Sadan is about 11,448 square meters, with a base price of Rs 23,676 per square meter for development rights. On the eastern side, two plots covering a total area of 7,143 sq m are available, with a base price of Rs 19,982 per square meter.
“A 6-meter wide arcade along the riverside is also planned to enhance connectivity with the river,” said a senior SRFDCL official.
This development comes after the state government approved the Sabarmati Riverfront Land Disposable Policy in October 2023.
According to a senior official, SRFDCL will issue an RFP followed by an auction for the development rights of these four plots in the first phase. The base price will be updated every three years, and the plot with the highest bid will set a new base price for its value zone.