A multi-level parking and commercial property with eight floors was built on Prahladnagar Road four years ago at a cost of ₹93 crore, including parking facilities. 

However, despite such massive expenditure, the municipal authorities have failed to attract buyers. Now, an e-auction will be held for the third time on April 21 and 22.

The multi-level parking complex consists of 20 shops and 78 offices. Amdavad Municipal Corporation (AMC) administrators had even expressed willingness to sell an entire floor if a buyer was interested. However, not a single buyer evinced interest in purchasing any floor. 

In 2019-20, AMC approved construction of an eight-storey multi-level parking facility on Prahladnagar Road. Built over 6,840 square metres, it includes two basements, a ground floor, and eight floors with parking space for 404 cars and 474 two-wheelers.

In 2022, the price of the property was set at ₹4.93 lakh per square metre, but due to the high cost, there were no buyers. The Price Determination Committee later revised the rate in 2023, lowering it to ₹3.96 lakh per sq m. Shops and offices are located on the ground and first floors, as well as from the fifth to eighth floors.

Despite two previous e-auctions, the municipal corporation failed to attract buyers. Now, for the third time, authorities have begun preparations for another e-auction in an attempt to sell the parking property.

Floor-wise rates

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Prahladnagar multilevel parking has no takers, adds to AMC's failure list