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… Read More

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… Read More

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,… Read More

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… Read More

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… Read More

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… Read More

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… Read More

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… Read More

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… Read More

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,… Read More

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'… Read More

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… Read More

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… Read More

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. Read More

Press Release

GIFT City launches office buildings at IFSC
October 12, 2016

GIFT City launches office buildings at IFSC12 October 2016 The Gujarat International Finance Tec-City (GIFT City) has launched new office buildings in the SEZ & non-SEZ zones of the International Financial Services Centre (IFSC). To carry out the construction projects, proposals have been invited from national and international developers. About 15 million sq ft of the built-up area has been allocated for constructing offices, residential complexes and investments are estimated at Rs 10,000 crore. Read More

New company to be formed for railway projects in Gujarat
October 8, 2016

With an aim to improve railway infrastructure in Gujarat, the state government has given its nod for the formation of a company specifically for carrying out rail projects. The company will be named 'Gujarat Rail Infrastructure Development Ltd (GRIDE)' with state government having 51 per cent stake and the remaining 49 stake will be taken up by Indian Railways. The company will look after state projects involving rail connectivity and connecting missing links across the… Read More

Ahmedabad receives Rs 190 crore instalment for smart city projects
October 6, 2016

Ahmedabad has received Rs 194 crore from the Centre, its first instalment of funds for carrying out its Smart City projects, almost eight months after the city made it to the first 20 Smart Cities list. Of the total amount, around Rs 100 crore will be used as equity by Ahmedabad Municipal Corporation (AMC). The special purpose vehicle (SPV) for Ahmedabad Smart City project has already been formed. The suggestion to convert Rs 100 crore… Read More

Gujarat gets Rs 700 crore for slum redevelopment
October 1, 2016

With an aim to fund affordable housing in Gujarat, Rs 700 crore Slum Redevelopment Premium Fund (SRPF) has been floated by the state government. To execute the projects, the municipal bodies have been instructed to create an own account which will be then linked with the SRPF. The premium collected by these civic bodies from developers will be used for purchasing land and developmental rights for slum redevelopment. Commenting on this, Ashwani Kumar, Secretary &… Read More

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