The Sabarmati Riverfront project’s Phase-3, with the generous backing of PNC Menon and the collaborative spirit of the Gujarat state government, is poised to set new benchmarks in urban redevelopment.
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As Ahmedabad gears up for this exciting new chapter, the city stands as a testament to the transformative power of visionary leadership, public-private partnerships, and community-driven initiatives.
Dubai/Ahmedabad (India CSR): Ahmedabad’s Sabarmati Riverfront, a standout attraction in Gujarat State’s urban panorama, is poised for a remarkable transformation with PNC Menon, Founder of SOBHA Group, pledging a significant Rs 1000 crore for its advancement. This philanthropic endeavor aims to amplify the city’s efforts to champion sustainable urbanization and foster community betterment.
Building upon a Legacy
Initiated in 1997, the Sabarmati Riverfront development has been a monumental project undertaken by the Ahmedabad Municipal Corporation (AMC). The Special Purpose Vehicle (SPV) – Sabarmati Riverfront Development Corporation Limited (SRFDCL) was created to metamorphose the riverfront into an urban treasure.
The completed 11.5 km promenade, adorned with lush parks, gardens, and state-of-the-art facilities like the Atal Bridge, Biodiversity Park, and the Event Centre, has elevated Ahmedabad’s stature as a global city.
The second phase, approved in October 2020, extended this vision by adding 5.8 km on Riverfront East and another 5.2 km on Riverfront West, all leading to the majestic Indira bridge.
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Embarking on a New Journey
The recently inked Memorandum of Understanding (MoU) between the Gujarat state government and Menon is the harbinger of Phase 3, an ambitious endeavor that combines the expertise of SOBHA Realty Dubai with the government’s progressive vision. A mutual commitment to crafting sustainable, inclusive, and dynamic urban zones is the backbone of this partnership.
The Phase-3 plans to develop a 4.5 km stretch on both sides of the river, promising an aesthetically pleasing, community-driven space that will further amplify the allure of the Sabarmati Riverfront.
Reflecting on this collaboration, the Chief Minister of Gujarat, Bhupendrabhai Patel commented, “This partnership symbolizes the spirit of collaboration and the shared goal of making Ahmedabad a global beacon of urban development.”
Menon’s generosity is in sync with his previous commitments of channeling half of his personal wealth toward community causes. His unwavering dedication to societal upliftment shines through this magnanimous contribution, ensuring that the Sabarmati Riverfront becomes a testament to sustainable development and community empowerment.
A Vision for the Future
As urban spaces across the globe grapple with the challenges of rapid urbanization, the Sabarmati Riverfront project stands out as a beacon of sustainable and inclusive development. It is more than just an infrastructural endeavor; it represents the aspirations of Ahmedabad’s residents and the broader Indian community.
“The riverfront is not just a landmark for Ahmedabad; it’s a symbol of how modern cities can develop while keeping sustainability and community welfare at their core,” said Menon, expressing his excitement and commitment to the project.
Engaging Communities
One of the core tenets of the Sabarmati Riverfront project is its focus on community engagement and empowerment. Beyond the aesthetic enhancements and infrastructural upgrades, the project promises to be a hub of socio-cultural activities, drawing both locals and tourists alike.
Local artisans, vendors, and cultural troupes are expected to find a platform here, enabling a fusion of traditions and modernity. Educational tours, cultural events, and recreational activities are also envisioned, making the riverfront a pulsating hub of energy and creativity.
Economic Impacts
The riverfront’s development is not just an architectural marvel but a significant economic driver. By attracting tourists, boosting local businesses, and creating employment opportunities, the project has the potential to significantly bolster Ahmedabad’s economy.
Real estate experts predict an appreciation in property values in proximity to the riverfront, benefiting homeowners and investors. Moreover, the project is likely to spawn ancillary industries in the vicinity, further driving economic growth.
In May 1997, under Section 149(3) of the Indian Companies Act, 1956, the Ahmedabad Municipal Corporation initiated the Sabarmati Riverfront Development Corporation Limited (SRFDCL) as a Special Purpose Vehicle (SPV). With a foundational capital of Rs. 9 crore, SRFDCL was mandated to oversee the riverfront’s development following a Build, Maintain, Operate, and Transfer (BMOT) framework. This SPV approach was chosen to circumvent the prolonged processes typical of municipal frameworks. The riverbed land, initially owned by the Gujarat Government, was reallocated to the AMC, which subsequently accorded development privileges to the SRFDCL for the retrieved land.
(India CSR)
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