Centre approves Ahmedabad Metro Phase 2 project
February 12, 2019

The Central Government has given its final nod for the development of the 28.5 km long Ahmedabad-Gandhinagar Metro Phase 2, linking Gandhinagar to Motera. The estimated cost of the project is Rs 5,523 crore. The Ahmedabad-Gandhinagar corridor will have 20 stations. The decision was taken after the meeting between the metro authorities and the Public Investment Board (PIB). The final proposal has been tabled to the Finance Secretary for the final sanction. The formal announcement of the same would be made when Prime Minister Narendra Modi inaugurates the 6 km stretch of the Ahmedabad Metro connecting Vastral Gam to Apparel…

Ahmedabad civic body scales down 2018-19 budget by 61 percent
January 24, 2019

After making revisions in its annual budget for 2018-19, Ahmedabad Municipal Corporation (AMC) has scaled it down by 61 percent from last year. The civic body, which allocated Rs 1,400 crore for projects such as bridges and roads, drainage system and water supply among others, disclosed that it will now spend just Rs 556 crore as per the revised budget. Reportedly, there was a shortfall of 34 percent in the civic body’s revised budget and actual spending in 2017-18. The Corporation, which later revised its budget to Rs 553.49 crore for 2017-18 spent only Rs 366.31 crore. According to an…

Gujarat govt. sets June 2020 deadline for Ahmedabad Metro project
January 23, 2019

The Gujarat government has directed the Gujarat Metro Rail Corporation Limited (GMRC) to complete the metro project in Ahmedabad by June 2020. Recently, a meeting was held with the metro officials to ensure timely completion of the project. Officials have shared that the Corporation has plans to launch a 6 km-long metro corridor running from Vastral to Apparel Park by the end of February 2019. Moreover, the metro officials are developing the 6 km underground stretch of metro between Apparel Park and Shahpur. IP Gautam, Managing Director, GMRC, has stated that the underground tunnel from Apparel Park to Kalupur has…

Gujarat RERA approves 4,691 projects after May 2017
January 21, 2019

According to Gujarat RERA Chairman, Amarjit Singh, since May, 2017, as many as 4,691 real estate projects, entailing an investment potential worth Rs 1.42 lakh crore, have been approved by the Gujarat Real Estate Regulatory Authority (GRERA). A total of 85 percent of the projects have reached the State regulator’s office, while 75 percent of projects are on track. Singh added that 50 percent of the total projects approved (2,326 projects) are residential. Around 1,542 projects belong to the affordable housing segment. A total of 2.12 lakh affordable housing units, worth Rs 30,966 crore, will come up in the State.…

Gujarat approves 7 town planning schemes
January 16, 2019

The Gujarat government has approved seven Town Planning Schemes (TPS) for different parts in the State. Of all, five of the schemes have been sanctioned for areas in Ahmedabad. The development was announced by Vijay Rupani, Chief Minister, Gujarat. In 2018, the State government had cleared over 100 such planning schemes for the overall development of urban areas in Gujarat. Officials have shared that the State government has already given its nod for around 43 schemes in Ahmedabad in the last 12 months. With these announcements, over 3,000 hectares of land will undergo planned urban development. The planning schemes sanctioned…

Ahmedabad Metro to open for public by March 2019
January 10, 2019

The Metro-Express Link for Gandhinagar Ahmedabad (MEGA) will begin its services in different parts of Ahmedabad and Gandhinagar for the general public by March 2019. The Authority has shared that the trial run of the metro rail will be inaugurated by Prime Minister Narendra Modi on January 17, 2019. Officials have shared that the three train coaches have arrived for trial runs. IP Gautam, Managing Director, MEGA, has shared that a couple of agencies will be hired to conduct trial runs of the metro. A total of three trial runs will be conducted before the commencement of rail services. The…

Ahmedabad to witness investment worth Rs 20,000 crore
January 8, 2019

Gujarat’s real estate sector is anticipated to see a series of investments following the ensuing Vibrant Gujarat Global Summit 2019. The ninth edition of the biennial event will witness builders signing 385 Memorandums of Understanding (MoUs) for real estate projects worth Rs 20,225 crore in Ahmedabad. According to a source from the State’s Urban Development Department, of the 385 MoU’s, 259 proposals with cumulative investment worth Rs 12,841 crore are for developing real estate projects under Ahmedabad Municipal Corporation (AMC) limits. The remaining 126 MoUs with investments to the tune of Rs 7,384 crore are for localities falling under the…

Gujarat passes ordinance for redevelopment of old societies
December 1, 2018

In a bid to allow redevelopment of old Gujarat Housing Board societies, the Gujarat government has passed an ordinance to make revisions in the Gujarat Housing Board Act, 1961. The decision has come after the State permitted redevelopment of the private housing societies. According to Lochan Sahera, Secretary of the Urban Housing Development, the amended rules will make 25 years old society buildings eligible for redevelopment. Further, redevelopment of old housing societies can now be carried out with the consent of 75 percent of members instead of the previous 100 percent. Sahera further added that the ordinance was enacted after…

Ahmedabad Metro trial run to commence in January 2019
November 27, 2018

The trial run of a 6.5 km-long Ahmedabad-Gandhinagar metro rail corridor will be conducted in the first week of January 2019. The information is announced by the Gujarat Chief Minister, Vijay Rupani. The 6.5 km stretch will run between Vastral and Apparel Park. Officials have shared that the metro project will become operational by 2020. The Ahmedabad-Gandhinagar Metro project is being carried out by Metro Link Express for Gandhinagar and Ahmedabad (MEGA). The Ahmedabad Metro Phase-1 is expected to cost Rs 10,773 crore. The Phase-1 will connect suburbs in the city along east-west and north-south axis. The corridor will later…

Gujarat RERA: List of approved projects and agents
October 31, 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 3,880 real estate projects have successfully registered under Gujarat RERA. The Authority has issued RERA certificates to 702 real estate agents, till now. List…

Press Release

Pratham Enterprises announces two projects in Ahmedabad
October 17, 2018

Pratham Enterprises announces two projects in Ahmedabad17th October 2018 Pratham Enterprises is planning to get into the Ahmedabad real estate market with two mega residential-cum-commercial projects. The project will offer a mix of residential and commercial units. The developer will structure a project on a 1.15 Lakh sq ft plot located near Shilaj Cross Road. Another residential project will be built on about 6.5 Lakh sq ft near Vaishnodevi Circle. Out of the two planned mega projects, one project will consist of affordable housing apartments, while the other housing project will have homes for the middle to upper-middle income groups.…

Ahmedabad Metro project spends over 3,000 crore till date
October 2, 2018

The upcoming Ahmedabad-Gandhinagar Metro rail project has incurred a sum of Rs 3,116 crore in the last four years beginning 2014. The Gujarat government expects the proposed metro corridor to be completed by the end of the year. Vijay Rupani, Chief Minister, Gujarat, has informed that the first phase of the Ahmedabad-Gandhinagar metro project was inaugurated in November 2014. The metro development authority has utilised a fund of Rs 226.37 crore for FY 2014-15, Rs 452.38 crore for FY 2015-16, Rs 1,112.67 crore for FY 2016-17 and Rs 1,324.35 crore for FY 2017-18. Till March 31, 2018, about 38 percent…

Bullet Train Project: Gujarat increases compensation rates for farmers
September 29, 2018

The Gujarat government has decided to increase the compensation amount for farmers agreed to give their land parcels for the development of the Mumbai-Ahmedabad bullet train project. Now, the compensation amount has been raised to double coupled with an extra 25 percent bonus on the compensation amount. Kaushik Patel, Revenue Minister, Gujarat, has stated that owners with land parcels under Urban Development Authorities and Area Development Authorities will get four times the market rate. As per the compensation guidelines by the Central Government, landowners in rural parts of the State get four times the market rate. In urban centres, the…

Gujarat RERA registers 3,300 projects, 620 agents
August 21, 2018

Since the implementation of Real Estate (Regulation and Development) Act (RERA), Gujarat Real Estate Regulatory Authority (Gujarat RERA) has registered over 3,300 ongoing real estate projects across the State. With this, Gujarat becomes the third most active State across the nation after Maharashtra and Uttar Pradesh. Shekhar Patel, Chairman, CREDAI, Gujarat, has shared that implementation status of RERA norms is smooth in Gujarat. Faster adoption by both the State and real estate developers resulted in proper implementation. Apart from project registration, Gujarat RERA has given RERA certificates to around 620 real estate agents. A homebuyer can check all details about…

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…

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…

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