Ahmedabad Municipal Corporation Launches Major Asset Monetisation Drive
The Ahmedabad Municipal Corporation (AMC) has taken a significant step towards unlocking the value of its vast property portfolio. Its newly formed Asset Monetisation Cell is now actively preparing a comprehensive strategy to sell and lease municipal assets. This initiative marks the first time the AMC is systematically approaching the valuation and sale of its owned and leased properties.
Consultant Appointment and Property Valuation
Established in March 2025, the cell has recently floated a tender to appoint a specialist consultant. The selection process is expected to conclude next month. Once appointed, this consultant will work closely with the cell to formulate a detailed sales strategy.
A primary focus will be on the sale of 4,113 leasehold properties. These include prominent locations such as the well-known Municipal Market on CG Road in Navrangpura. The AMC estimates the total valuation of these properties across various areas of the city to exceed a staggering Rs 2,000 crore.
Consulting firms interested in this project must submit their proposals by January 31. The chosen consultant will specifically devise the strategy for selling these leasehold assets.
Broadening the Revenue Stream
The monetisation plan extends beyond simple property sales. The cell is exploring multiple avenues to generate additional income for the municipal body.
- Developing reserved plots through Public-Private Partnership (PPP) models.
- Renting out municipal school buildings during evenings, weekends, and holidays.
- Allowing private bus operators to use dedicated BRTS corridors.
- Identifying and selling valuable digital data in coordination with the Smart City company.
The committee acknowledges that currently, there is no clear plan to generate income from these assets, which results in lower overall revenue for the AMC. To address this, a Standard Operating Procedure (SOP) will be created to guide the monetisation process.
Formation of the Monetisation Committee
The Asset Monetisation Cell became operational on March 19, 2025, following a circular issued by the Municipal Commissioner. A dedicated committee of nine senior officials oversees its work.
This committee operates under the chairmanship of the Municipal Commissioner and includes:
- Deputy Municipal Commissioner (Projects)
- Deputy Municipal Commissioner (Estate)
- Deputy Municipal Commissioner (Finance)
- Deputy Municipal Commissioner (Legal)
- Estate Officer
- Head of Department (Non-Tax Revenue)
- Chief City Planner
- Chief Accountant
- Deputy Chief Accountant
Their mandate is to create strategies that boost non-conventional income from the AMC's movable and immovable properties. This encompasses a wide range of assets:
- Public buildings and schools
- Space under bridges
- Parking plots
- Advertisement sites
- Machinery and vehicles
- Digital data
Challenges with Leasehold Properties
A notable challenge forms part of this drive. Despite having over four thousand properties on lease, not a single tenant has expressed interest in purchasing their leasehold property in the past five years. The new strategy aims to overcome this market hesitation and successfully transfer these assets.
Some of the notable AMC-leased properties slated for this monetisation effort include:
- Municipal Market, CG Road, Navrangpura
- Usmanpura Community Hall Shops
- Juna Vadaj Sorabji Compound Mini Stalls
- Paldi Bus Stand Shops (near Bal Bhavan)
- Meat Market, Mirzapur
- White Center Shops, Shahpur
- Khanpur Kam Hotel Shops, Shahpur
- Fruit Market, Old Kalupur
- Pan Market, Kalupur
- Manek Chowk Shops, Khadia
This ambitious plan represents a strategic shift for the AMC. It moves the corporation from a passive holder of assets to an active manager seeking to maximise public revenue from its substantial property holdings in Ahmedabad.
