Gujarat RERA: List of registered projects, agents available on RERA portal
September 26, 2017

Till now, 24 states and Union Territories (UTs) have notified Real Estate (Regulation and Development) Act (RERA). Of these, only four states, including Gujarat, have established permanent regulatory bodies. Gujarat has also launched an online portal, where number of applications for registration submitted. Gujarat’s real estate regulatory authority has finally shared the list of approved projects and agents on its website. Interested homebuyers may check the approved list of projects and agents before making any purchase decision. Experts advise buyers to only purchase realty properties from registered developers in order to avoid any hassles later on. It should be noted…

Ahmedabad Metro clears land acquisition hurdle
September 21, 2017

The land acquisition issue hampering the construction of the Metro Link Express between Gandhinagar and Ahmedabad (MEGA) has finally been settled. This spells good news for the real estate potential of the localities situated along the route. The land acquisition for the project had been stuck since January 2016 as the residents of localities that were in the way of the metro alignment had refused to move. They appealed to the court that the project’s route be altered. Later, MEGA authority offered to compensate them in cash or plots, which finally placated the residents. The authority proposed to pay around…

Gujarat RERA announces penalty for registrations after October 1
September 20, 2017

The Gujarat Real Estate Regulatory Authority (Gujarat RERA) has decided to impose penalty charges for developers registering their ongoing projects under the Real Estate (Regulation and Development) Act (RERA) post October 1. A fine equivalent to the registration fee for the properties would be charged on projects registering between October 1 and 31. Meanwhile, a higher penalty amounting to double the registration fee would be levied on registration applications received between November 1 and November 30. However, no penalty will be charged for developers registering their projects till September 30. Gujarat RERA has also asked all builders to furnish reasons…

Gujarat fails to meet rural housing targets
July 29, 2017

The Gujarat government has failed to achieve the targets set for constructing homes under the Pradhan Mantri Gramin Awas Yojana (PMGAY) for the last five years. Consequently, in 2016-17, the state government reduced its targets to just one-fifth of the construction target set for 2012-13.  Vijay Rupani, Chief Minister (CM), Gujarat, expressed concern over the failure of the rural housing project in the state. All concerned officials have been asked to expedite implementation of housing programme initiated by the central government. Official records have shown that the state government was unable to achieve more than 40 percent of rural housing…

RERA registrations commence in Ahmedabad
July 17, 2017

Registration of real estate projects and developers in Ahmedabad has finally commenced under the state Real Estate (Regulation and Development) Act (RERA). As per the rules, all projects initiated in the city and within Ahmedabad Urban Development Authority (AUDA) limits before May 1, 2017 will have to be registered under RERA before July 31. While the online registration procedure has been made user friendly, officials state that the pace of registrations is still slow. Officials add that the RERA website has received about 3,700 hits so far while the exact number of completed registrations is still unavailable. Dhruv Patel, honorary…

Gujarat HC issues notice to state govt to set up RERA regulator
July 13, 2017

In reply to a Public-Interest Litigation (PIL) filed, the Gujarat High Court has issued a notice to the state government to give an update on the process of setting up a regulatory authority under the Real Estate (Regulation and Development) Act, 2016 (RERA). As other respondents, the state Urban Housing and Urban Development Department have also been included. Headed by the Chief Justice, R Subhash Reddy and Justice, V M Pancholi, a division bench issued the notice. The next hearing would be held after a week. The State government has not established the regulatory authority proposed under Gujarat RERA rules…

New launches dip by 80% in Gujarat on the back of upcoming GST regime
June 25, 2017

Gujarat real estate has witnessed new launches in the residential sector slowing down by almost 80 percent while prices are expected to rise by five percent in the near future. The demonetisation drive in November 2016 and the impending roll out of Goods and Services Tax (GST) are the likely culprits of these issues. This has led to the upcoming annual property show in the state to be devoid of any new launches. Ashish Patel, President, Gujarat Institute of Housing and Estate Developers (GIHED), commented that the 12th edition of the event will exhibit about 200 projects, all of them…

Vadodara to have 2600 EWS houses
May 9, 2017

Vadodara civic body will soon initiate the biggest housing scheme for the Economic Weaker Sections (EWS) in the city. Over 2,600 houses for slum dwellers or those staying in unauthorised settlements will be built at Kishanwadi, which will be covered under the Centre’s Pradhan Mantri Aavas Yojana (PMAY) scheme at Sanjaynagar in Warasiya. Of all 2,637 housing units (30 sq m, each), 1,841 will be built for residents of Sanjaynagar itself. However, the remaining units will be used by the Vadodara Municipal Corporation (VMC) for the relocation of residents of other such pockets in the city. VMC’s tender for the…

Gujarat to regularise 7 lakh unauthorised properties on agricultural land
April 3, 2017

The Gujarat Assembly has passed the Gujarat Land Revenue (Amendment) Bill, 2017, amending the century-old Gujarat Land Revenue Code, 1879. This move will allow over seven lakh unauthorised properties built on agricultural land to be regularised without having to convert their land use purpose. Bhupendrasinh Chudasma, Gujarat’s revenue minister, commented that the state has witnessed the emergence of transitional or hybrid areas, a mixture of rural, semi-urban, or urban areas, on the back of rapid industrialisation in the past decades. However, the development occurring in such areas are against the conditions and restrictions mentioned in the 1879 law. This has…

Land, construction clearances in Gujarat to be moved online
March 1, 2017

Gujarat government has decided to shift all land and construction related approvals online. The state is currently working on a comprehensive permission system with Geographic Information System (GIS) based master plan for urban local bodies, an automated building approval system, and town planning data on GIS for municipal corporations. The comprehensive system will integrate these services as a part of E-Nagar Extension and will provide internet services for all urban local bodies. The government has allocated Rs 35 crore for this in the recent state budget. The Gujarat urban development department (UDD) has been asked to ease the tedious processes affecting…

Ahmedabad Municipal Corporation approves budget worth 6,551 crore for 2017-18
February 19, 2017

The Ahmedabad Municipal Corporation (AMC) recently cleared its annual budget worth Rs 6,551 crore for 2017-18. AMC also passed budgets for VS Hospital, MJ Library, and Ahmedabad Municipal Transport Service during its board meeting. Gautam Shah, Mayor, AMC stated the authority intends to develop all infrastructure under the Swarnim Jayanti Mukhya Mantri Shaheri Vikas Yojana through long-term planning. Shah shared that the city has witnessed the completion of water projects worth Rs 135 crore and drainage works worth Rs 30.57 crore in the last one year. Further, water projects of Rs 290 crore and drainage projects of Rs 373 crore…

Proposed Ashram Road CBD in Ahmedabad delayed
January 22, 2017

The ambitious Central Business District (CBD) planned on Ashram road in Ahmedabad has been delayed with no progress since its announcement by the Ahmedabad Urban Development Authority (AUDA) in 2013. The delay has been caused due to the local area plan (LAP) for west and east sides of the CBD not being finalised yet. The LAP would consist of special rules for road connectivity, ground use, parking, and public transport facility. The LAP was expected to be ready by August 2016. However, officials shared that the general development control regulations (GDCR) for the LAP for the west side of the CBD will…

Gujarat sees up to 90% dip in home sales post demonetisation
December 15, 2016

The public’s decision to spend only on the basic necessities post demonetisation has hit real estate sales, particularly residential units, in Gujarat. A substantial decline was recorded in cities such as Ahmedabad, Surat, and Vadodara during November 2016. According to the data provided by developers, bookings fell by 90 percent in the state capital - Ahmedabad - while Surat and Vadodara recorded up to 30 percent dip in bookings. This is further complemented by a sharp dip in property registrations in the state as Ahmedabad, Surat, and Vadodara saw declines of 63 percent, 74 percent, and 62 percent, respectively. Out…

Surat government announces projects worth Rs 274 crore
November 28, 2016

The Surat government has decided to use Rs 274.60 crore available with the Surat Municipal Corporation (SMC) for carrying out various infrastructure projects in the state. The announcement was made by Vijay Rupani, Chief Minister, in the presence of other dignitaries including Nitin Patel, Deputy Chief Minister, and M Thennarasan, Municipal Commissioner. As per the plan, the money will be spent on building 3,522 affordable homes and operating 100 air-conditioned and non-air-conditioned city buses. Meanwhile, Patel stressed upon the need for creating employment opportunities for the young generation, especially with Centre rolling out programmes such as Skill India and ‘Make…

Gujarat to roll out Retail Trade Policy
November 8, 2016

With an aim to revive retail business in the state, Gujarat state government has planned to launch a Retail Trade Policy, making it the fourth city in the country after Karnataka, Maharashtra, and Andhra Pradesh to do so. The policy will be formulated by the industries and mines department in coordination with nine other departments and the trade bodies. The major focus of the policy will be to shape up the 'Retail and Entertainment Zones' within the state, offer conducive tax environment for retail businesses (single as well as multi-brand), relaxing the labour laws, and formulating parking and building bye-laws…

Gujarat announces the formation of Real Estate Regulatory Authority
November 3, 2016

Shortly after notifying the rules for Real Estate (Regulation and Development) Act (RERA), 2016, the Gujarat government has notified the establishment of a Real Estate Regulatory Authority in the state. Now, both residential and commercial real estate buyers will be able to register complaints against misguiding developers and real estate companies. While the state rules will be effective from May 1, 2017, the projects launched after November 1, 2016, will also fall under the ambit of the authority. As per the rules, the Authority can: Seek information such as the interest and rights of the promoters in the land, its…

Gujarat notifies Real Estate Act rules
November 1, 2016

Gujarat has become the first state in the country to notify the Real Estate (Regulation & Development) Act rules with all the other states missing the deadline. According to the Real Estate Act, all the states had to notify and operationalise the rules by October 31. The move came after the Ministry of Housing and Urban Poverty Alleviation (HUPA) notified the rules for all the states and the Union Territories on October 30. While Urban Development Ministry was responsible for framing rules for Delhi, it failed to meet the deadline. Similarly, Maharashtra, Andhra Pradesh, Karnataka, and Tamil Nadu finalised the…

Press Release

Asian Granito India concludes Crystal Ceramics acquisition
October 12, 2016

Asian Granito India concludes Crystal Ceramics acquisition12 October 2016 Asian Granito India Ltd (AGIL), concluded the acquisition of Crystal Ceramics Industries Pvt Ltd (Crystal Ceramics). The tile company had earlier completed the acquisition of Artistique Ceramic Pvt. Ltd which has 70 per cent shares in Crystal Ceramics during FY 2015-16 via a consolidation scheme which was approved by Gujarat High Court. The overall investment including the expansion is estimated to be around Rs 170 crore.

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