Archaeological dept approves underground Ahmedabad Metro
August 18, 2018

The Archaeological Survey of India (ASI) has finally granted permission to the Metro rail development authority to begin construction work on the underground stretch of Ahmedabad Metro passing close to the archaeologically protected monuments. The track would be laid at a distance of 106 to 289 metres from these monuments. Officials have stated that the proposed stretch is more likely to become operational in the first quarter of 2019. Trial runs of the train from Vastral would begin by the first week of January 2019. IP Gautam, Managing Director, Ahmedabad Metro Rail Project, has shared that the Authority has sanctioned…

Gujarat RERA: List of approved projects and agents
July 26, 2018

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 that only registered projects can be sold, marketed, or advertised as per the RERA rules. As of now, overall 3,237 real estate projects have successfully registered under Gujarat RERA. The Authority has issued RERA certificates to 608 real estate agents, till now. List…

Press Release

Arvind Smartspaces announces Arvind Aavishkaar project
July 17, 2018

Arvind Smartspaces announces Arvind Aavishkaar project13th July 2018 Bangalore-based real estate developer, Arvind Smartspaces has announced the launch of its new project, Arvind Aavishkaar in Ahmedabad. Being constructed in the heart of the city, the project will span over 17,000 sq m and will constitute around 1,200 units, configured as 2BHK. The units measure 475-650 sq ft, and is price tagged Rs 20 lakh. 

Ahmedabad airport expansion faces several hurdles
July 12, 2018

The much talked about expansion plan of Sardar Vallabhbhai Patel International (SVPI) airport is facing multiple impediments mostly pertaining to relocating around 350 families living in Kubernagar and Sardarnagar areas. Their relocation is likely to cause significant expenditure to State government. Sources revealed that AAI chairman, Guruprasad Mohapatra and Sardar Vallabhbhai Patel International Airport (SVPI) Director, Manoj Gangal, emphasised on the land requirements to expand the prevailing parallel taxi track to encounter the future growth of air traffic, in adherence to the Directorate General of Civil Aviation (DGCA) regulations. In a meeting held on February 23, the proposal related to…

Ahmedabad Metro: MEGA invites bids for East-West corridor
July 8, 2018

The Metro Link Express for Gandhinagar and Ahmedabad (MEGA) has invited bids for the proposed east-west corridor of Ahmedabad Metro rail project. The special purpose vehicle (SPV) has notified tender for design, manufacture, supply, installation, testing and commissioning of the electrical and mechanical system. The estimated cost of the project is around 600 crore. The SPV has set July 18, 2018 as the last date to participate in the bidding process. The tender will be opened on the same date. Bid security amount is Rs six crore. The Japan International Cooperation Agency (JICA) is funding the loan for the Ahmedabad…

Gujarat RERA gets new address
May 17, 2018

The Gujarat Real Estate Regulatory Authority (Gujarat RERA) has got a new address. The regulatory authority has been shifted to Sahyog Sankul, GH-Road, Sector-11, Nr. Pathikashram, Opposite Civil Hospital, Gandhinagar on May 1, 2018. Earlier, the authority was functioning from the 1st Floor and 3rd Floor, Chief Town Planner Office Building, Sector-10, Gandhinagar. New Gujarat RERA Address - 4th Floor, Sahyog Sankul, GH-Road, Sector-11, Nr. Pathikashram, Opposite Civil Hospital, Gandhinagar - 382007. As of now, the regulatory authority has approved 2,663 real estate projects across the State. The Authority has issued RERA certificates to nearly 536 real estate agents, till…

Gujarat to announce 425 town planning schemes soon
May 17, 2018

The Gujarat government will soon finalise over 420 town planning schemes. To achieve this, Chief Minister, Vijay Rupani has launched a special drive to identify and draft a total of 425 town planning schemes and simplifying procedures. The Chief Minister has directed authorities to complete recruitment of 70 junior town planners. The State government will also appoint town planners in municipal corporations of Ahmedabad, Vadodara, Surat, and Rajkot. In another development, the State government has reduced the prices of plots of up to 3,000 sq m offered by the Gujarat Industrial Development Corporation (GIDC) by 50 percent. The decision was made to…

Gujarat RERA approves 2,530 projects, 530 agents in one year
April 30, 2018

Since the implementation of the Real Estate (Regulation and Development) Act (RERA), Gujarat Real Estate Regulatory Authority (Gujarat RERA) has approved over 2,500 projects across the State. As far as real estate agents are concerned, the authority has given RERA certificates to over 500 agents in the last one year. Officials have shared that the Gujarat RERA has, till now, registered 2,530 real estate projects and 531 agents under RERA successfully. Out of all registered projects, nearly 50 percent of the ongoing projects are based in Ahmedabad, followed by Surat, Vadodara, and Rajkot. Ahmedabad recorded registration of 1,215 ongoing projects.…

Ahmd civic body allocates only 50 percent of announced EWS houses
April 29, 2018

The Ahmedabad Municipal Corporation (AMC) in its two year old advertisement stated that it would construct 6,349 EWS houses for the urban poor in some of the premium localities or in areas lying in proximity to Sola, Gota, Thaltej and Makarba under the phase-IV of state government’s EWS housing scheme. The scheme received an overwhelming response with 70,203 applications for phase-IV. However, recently only 2,805 EWS houses were allotted to the beneficiaries out of which, very few are located near posh localities. According to a senior EWS-housing official, around 3,241 houses were to be constructed in Sola-Thaltej and Gota areas…

Gujarat RERA revises submission deadline for quarterly returns
April 10, 2018

Gujarat Real Estate Regulatory Authority (Gujarat RERA) has extended the deadline for promoters to file quarterly return as mandated by the RERA norms. As per RERA rules, all promoters are mandated to update the details of their registered projects with the Authority within seven days from the expiry of each quarter. Officials have shared that all promoters, as per RERA norms, are required to update all necessary information about their project by April 7, 2018 for the previous quarter ending March 2018. However, most of them failed to comply due to formalities involved with the financial year-end and public holidays.…

Ahmedabad civic body issues over 5000 notices to tax defaulters
February 26, 2018

The Ahmedabad Municipal Corporation has recently issued over 5,000 notices to owners for not paying property taxes. There are over 8,300 such properties in the city. The civic body has to recover Rs 2,000 crore from property owners in the city. Officials kicked off a drive and handed out 5,500 notices to property owners who have failed to pay the property tax. Apart from sending notices to property tax defaulters, the civic body has sealed a commercial complex on CG Road. To improve traffic chaos, the Ahmedabad civic body has recently launched a drive to prevent traffic snarls due to…

Gujarat allocates Rs 592 cr for Ahmedabad metro for FY18
February 25, 2018

The Gujarat government has recently announced its budget for the upcoming financial year (FY) 2018-19. Apart from several announcements for the overall development of the state, the Gujarat Deputy Chief Minister, Nitin Patel, has announced some major projects for the real estate and aligned industries. One of the biggest announcements was the allocation of Rs 592 crore for the Ahmedabad metro rail project. The Ahmedabad Metro will connect Gandhinagar and Ahmedabad. The phase 1 of the metro project is in the construction stage. Approved in 2014, the metro project is expected to become operational by the end of 2020. Under…

Highway projects of Rs 12000 cr in progress in Gujarat
February 18, 2018

In Gujarat, about 36 national highway projects at an expected budget of Rs 11,830 crore are at different stages of construction. The information was shared by the Road Construction and Highways Minister, Gujarat, Mansukh Mandaviya. The construction of roads as National Highways stretching about 1,093 km has been added in the last four years. The total length of national highways in Gujarat is 5,145 km. The Ministry has shared that more highway projects worth Rs 23,000 crore are in the pipeline and will be approved by the state government in the next three months. Nearly 35,000 road projects have been…

Ahmedabad civic body hikes tax for flats built after 2008
February 5, 2018

The Ahmedabad Municipal Corporation (AMC) has increased the property tax for three BHK flats measuring 150 sqm that have constructed after 2008. If X is paying Rs 3855 as property tax for a 150 sqm 3BHK flat, now after the hike, he will have to pay Rs 4212 as tax. The property tax for the remaining property will remain unchanged. The Municipal Corporation has recently approved Rs 6990 crore budget for the year 2018-19. Pravin Patel, Chairman, Standing Committee, AMC, has said that the 50 percent discount on the Jantri rate for the buildings added under the jurisdiction of AMC…

GIFT City to get committed funding worth Rs 10,500 cr
January 26, 2018

India’s first operational smart city and International Financial Services Centre - Gujarat International Finance Tec-City (GIFT) has been committed an investment of Rs 10,500 crore, said Ajay Pandey, MD and Group CEO, GIFT City on Tuesday. It is to be noted that GIFT City has been included in the Union government’s Smart City Mission Statement and Guidelines as Model City in Greenfield category. Pandey further stated that IFSC banking transactions have already crossed $8 million and by 2025, the city is anticipated to produce one million jobs - half a million direct jobs and half a million indirect jobs. While…

Ahmedabad civic body to issue TDR certificates to landowners
January 20, 2018

Ahmedabad Municipal Corporation (AMC) will soon grant transferable development rights (TDR) certificate to owners of the land parcels that have been acquired for road widening and other infrastructure projects. Currently, the landowners receive either Floor Space Index (FSI) or cash compensation. Officials have said that the decision to give TDR certificate to the owners has provided another compensation option to the government while acquiring private owned lands. The owner will get a TDR certificate, which would allow the owner to develop additional built-up area anywhere in the city. Pravin Patel, Chairman, Standing Committee, AMC, has stated that owners have been…

Gujarat RERA revises penalty amount again for builders
January 4, 2018

The Gujarat Real Estate Regulatory Authority (Gujarat RERA) has again revised the penalty amount for builders and developers registering their ongoing housing and commercial projects under the Real Estate (Regulation and Development) Act (RERA). This is for the third time that the Gujarat RERA has extended the registration deadline. With this extension, all developers across the state have to deposit 2.5 times the registration fee as penalty for the registration of projects with the regulatory authority post December 31, 2017. In November 2017, the Authority had imposed twice the registration fee as the penalty for projects getting registered post November…

Ahmedabad registers 52% fall in home launches during 2017
January 4, 2018

In 2017, Ahmedabad witnessed a steep fall in new home launches. The city had registered a 52 percent decline in launches of new residential units as compared to launches in 2016. According to a recent report by Cushman and Wakefield, only 4,680 residential units were launched in 2017 as compared to 9,713 units in 2016. Ahmedabad registered the steepest decline among the top eight cities in India, including NCR, Mumbai, Chennai, Kolkata, Bangalore, Pune and Hyderabad. Experts have opined Real Estate (Regulation and Development) Act (RERA) and Goods and Services Tax (GST) are the primary drivers for such poor numbers…

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