Tag: Ahmedabad

InfrastructureLatest Stories

140 Ahmedabad Construction Sites Under Air Pollution Watch

Representative Image AHMEDABAD: As part of preparations for the 2030 Commonwealth Games, the Ahmedabad Municipal Corporation (AMC) is intensifying its efforts to enhance air quality by focusing on reducing pollution from construction activities. To achieve this, AMC has introduced the Good Construction Practices Policy, which mandates that construction sites with a built-up area over 20,000 sq. m must install dust sensors, air quality display boards, and CCTV cameras. Currently, around 140 construction sites throughout the city are equipped with these air quality sensors, which are routinely monitored. Enforcement actions have been taken against non-compliant sites, resulting in penalties totaling Rs…

IndustryLatest Stories

Nila Spaces’ Q3 FY26 Net Profit Soars 118.45%

NEW DELHI: Nila Spaces, based in Ahmedabad and a subsidiary of the Sambhaav Group, has reported a remarkable 118.45% increase in net consolidated profit for the quarter ending December 31, 2025. The company’s profit after tax rose to ₹8.17 crore in Q3 FY26, compared to ₹3.74 crore in the same quarter of the prior fiscal year, as disclosed in a BSE filing. The total income for the quarter also increased, reaching ₹55.51 crore in Q3 FY26, a growth of 58.28% from ₹35.07 crore in the corresponding quarter last year. Amit R. Chokshi, an independent director, has resigned and consequently will…

InfrastructureLatest Stories

Survey urges holistic rethink of development control rules

NEW DELHI: India’s urban areas are at a pivotal point, as highlighted by the Economic Survey 2025-26, which emphasizes that the nation’s urban narrative currently reflects an “unfinished promise.” To fully harness the capabilities of these “engines of growth,” the report advocates for a comprehensive reassessment of development control regulations (DCR) and a strategic overhaul in urban financing and governance. Central to this shift is the imperative to recognize cities as “critical economic infrastructure” rather than just living spaces. The survey points out a notable “governance deficit,” suggesting that while major global cities operate with autonomy, Indian cities often prioritize…

Latest StoriesRegulatory

Income Tax Raids on Ahmedabad Builders Continue Day Three

AHMEDABAD: The income tax (I-T) department’s ongoing search of real estate groups in the city is now entering its third day. Officials have not disclosed any details about the seizures made, as they are in the process of verifying bank account and locker information, according to sources. On Tuesday, searches commenced at over 30 locations throughout the city, including corporate offices and the homes of key individuals from two groups. These operations were prompted by a decoy sent by the department that confirmed builders were accepting part of the payment for real estate in cash. The searches included corporate offices,…

IndustryLatest Stories

Gujarat Plans Deregulation of NA in Town Planning Schemes

GANDHINAGAR: The Gujarat government is considering a proposal to remove the mandatory requirement for obtaining a non-agriculture (NA) certificate from the revenue department for projects—be it residential, commercial, mixed-use, or industrial—within town planning (TP) scheme areas. In a high-level meeting held on Thursday in Gandhinagar with officials from the government of India and secretaries of all state departments, the Gujarat government indicated to the Union government that it would likely repeal the clause requiring NA permission in areas governed by draft and finalized TP schemes. This certificate, issued by collectorates and district development offices, has been cited as a significant…

Latest StoriesRegulatory

I-T Raids on 30 Ahmedabad Sites Linked to Builders’ Cash Deals

AHMEDABAD: The income tax (I-T) department conducted a search on over 30 locations linked to two builder groups. This action was undertaken after a decoy from the department confirmed that the builders were accepting part of the payment for real estate in cash. The searches included corporate offices, construction sites, suppliers, and homes of key officials and promoters, involving over 100 I-T officials, as per sources. “The builders have multiple schemes around SG Road and beyond, and they have been under surveillance since Diwali. Initial findings indicate transactions worth crores have been uncovered,” sources revealed, noting that the search began…

IndustryLatest Stories

Ahmedabad Civic Body Starts Asset Monetisation to Boost Revenue

AHMEDABAD: The Asset Monetisation Cell (AMC) of the city is making its inaugural move to devise a strategy for evaluating and selling both AMC-owned and leased properties. Established in March 2025, the cell has issued a tender to appoint a consultant, with selections set to be finalized next month. This collaboration will aim to develop an effective sales strategy. The selected consultant will chiefly target the sale of 4,113 leasehold properties, including the notable Municipal Market located on CG Road. Bidders have until January 31 to submit their proposals, with an expected total property valuation exceeding Rs 2,000 crore. Moreover,…

Latest StoriesRera

Gujarat RERA Directs Builder to Pay Maintenance on Unsold Units

AHMEDABAD: The Gujarat Real Estate Regulatory Authority (GujRERA) has ruled that developers are required to pay maintenance charges for unsold units to housing societies from the date that Building Use (BU) permission is granted until those units are sold. In a case involving a housing society in Vastrapur, GujRERA stated that the promoter is responsible for ongoing maintenance of any unsold flats or units. This ruling came after the society reported that the developer had not settled maintenance fees for these unsold units, placing an additional financial burden on current residents. The complaint indicated that BU permission was obtained in…

Latest StoriesRegulatory

Gujarat’s Stamp Duty and Registration Fees Up 7% in 9M FY25

GANDHINAGAR | AHMEDABAD: The revenue generated by the Gujarat government from stamp duty and registration fees saw a notable 7% rise during the April-December 2025 period, increasing from ₹12,821 crore in 2024 to ₹13,699 crore in the initial nine months of the current financial year. Official sources indicate that income from these sources, driven by property registrations, is anticipated to exceed the budgetary target of ₹19,800 crore for the financial year 2025-26. “The increase in revenue is attributed to a rise in property transaction values. We expect total revenue for the financial year to surpass the budget estimate,” sources mentioned.…

Latest StoriesRegulatory

Ahmedabad collects ₹24 crore from property tax rebate scheme

AHMEDABAD: A property tax rebate scheme initiated by the Ahmedabad Municipal Corporation (AMC) from January 1 to March 31 has garnered a positive response. Within the first week, 24,887 taxpayers have paid property taxes totaling over Rs 24 crore. Collections have been significant across all seven zones. This initiative offers a 100% interest waiver for both residential and commercial properties under the previous tax formula from January to March. For residential properties using the new tax formula, interest waivers are set at 85% in January, 80% in February, and 75% in March, reducing by 5% each month to encourage early…