Tag: Ahmedabad

IndustryLatest Stories

Global Investors Target GIFT City Amid West Asia Tensions

MUMBAI: Growing geopolitical tensions in West Asia are leading some global investors and non-resident Indians to reevaluate their concentrated investments in Dubai. This has resulted in increased inquiries about India’s International Financial Services Centre at GIFT City. While Dubai continues to be a major capital hub for wealth management and investments, recent market volatility is prompting a diversification strategy, as investors look for jurisdictions that offer regulatory stability and are closer to growth markets like India. “The geopolitical instability in West Asia is reflected in the rising interest for office space at GIFT City, particularly among institutions and intermediaries who…

Latest StoriesRera

PM Gati Shakti to Oversee Gujarat RERA Projects

GANDHINAGAR: The Gujarat Real Estate Regulatory Authority (GujRERA) and the state urban development department are now integrating GujRERA-registered real estate projects with town planning and development plan data, facilitated by the PM Gati Shakti platform to enhance service delivery. Established under the Real Estate (Regulation and Development) Act, 2016, GujRERA is responsible for the registration of real estate projects and agents, along with regulation, monitoring, and grievance redressal for the registered projects. Currently, promoters utilize Google-based services to define project boundaries and upload information to the GujRERA portal. These services are also employed to display project boundaries on maps, geo-fence…

InfrastructureLatest Stories

Ahmedabad: 20 Homes, 4 Shops Demolished for Road Expansion in Narol

Representative AI image AHMEDABAD: The estate TDO department of the South Zone of Ahmedabad Municipal Corporation (AMC) conducted a demolition drive on Wednesday to clear an 18m-wide road as part of Town Planning Scheme 60 in the Narol area. During the operation, 20 residential houses and four shops that were obstructing the planned road were demolished. Additional encroachments, including platforms within the designated road area, were also removed. A total of 3,510 sq m of land was cleared, facilitating the opening of a 195-metre-long road stretch. Before the demolition, the AMC had issued notices to the occupants, urging them to…

CommercialLatest Stories

Investors Claim ₹1.6 Crore Fraud in WTC GIFT City Project

AHMEDABAD: On Wednesday, the CID (Crime) lodged a complaint regarding an alleged financial fraud exceeding Rs 1.56 crore tied to an investment scheme associated with a commercial project in GIFT City. The complaint stated that investors were enticed with promises of high monthly returns and a buyback guarantee, but later found their repayment requests denied. As per the complaint, in 2021, a group of investors was approached by a real estate intermediary who presented an investment opportunity in the WTC GIFT City Tower-C. The investors were informed that by purchasing commercial units in the project, they would receive a monthly…

InfrastructureLatest Stories

Ahmedabad’s Development Plan Now Targets 2041

Representative AI image AHMEDABAD: A new Development Plan (DP) is in the works before the current plan’s 10-year term wraps up. However, the Ahmedabad Urban Development Authority (Auda) has yet to finalize this draft, despite the previous plan—Ahmedabad Development Plan 2021—expiring a year ago. This delay stems from Auda’s decision to depart from longstanding traditions. Rather than crafting another 10-year plan, they are developing a 20-year plan, extending through to 2041, largely influenced by the potential hosting of the 2036 Olympics in Ahmedabad and Gandhinagar. For the first time, Auda is committed to creating a 20-year Development Plan instead of…

IndustryLatest Stories

Ahmedabad body now permits development in Gokuldham agri zone

AHMEDABAD: Twelve years after the Ahmedabad Urban Development Authority (Auda) approved the layout for Gokuldham township, the authority’s chairman has been empowered to issue development and revised development permissions for the agricultural land within the township. A dispute surfaced in April 2014, resulting in a halt to these permissions. The township covers over 10 lakh square meters in Sanand taluka, adjacent to Ahmedabad city. On October 8, 2002, Auda authorized the comprehensive layout plan for Gokuldham, which spans more than 50 hectares of land under the General Development Control Regulations of that time. Permissible specifications included an FSI of 1.2,…

InfrastructureLatest Stories

Illegal Constructions Cleared from Vadu Lake, Chandkheda

AHMEDABAD: On Tuesday, the estate TDO department of the Ahmedabad Municipal Corporation’s West Zone carried out demolitions of illegal structures around Vadu Lake in Chandkheda. This operation resulted in the removal of nine cattle sheds, 16 semi-permanent residences, and one religious building, clearing the 43,200 square metres area of the lake. Similarly, in Vejalpur’s Ropda Lake, authorities demolished four illegally constructed homes and four religious structures. In the North West Zone, the estate TDO opened a 30-meter wide road in Ghatlodia by demolishing four shops and three houses. Additionally, three temporary sheds were cleared from a reserved plot in TP…

InfrastructureLatest Stories

Cabinet Okays Gujarat Metro Extension to Shahpur

Image used for representational purpose only NEW DELHI: On Tuesday, the Union Cabinet approved a 3.33-km extension of the existing North-South corridor of the Gujarat Metro from GIFT City to Shahpur. The government stated that the project, which is set to be completed in four years, will feature three elevated stations. The decision was made during the Union Cabinet’s first meeting led by Prime Minister Narendra Modi at Seva Teerth, the new PMO complex. The estimated cost for the project is Rs 1,067.35 crore. This corridor is expected to serve around 23,702 passengers by 2029 and approximately 58,059 passengers by…

Latest StoriesResidential

Vastrapur Societies to Offer Land for Road Widening, Taller Buildings

Representative AI image AHMEDABAD: Various societies in Vastrapur village have opted to relinquish portions of their land for road widening, in return for accelerated redevelopment that includes taller buildings. According to the state’s comprehensive general development control regulations, the height of new constructions in urban areas is dictated by the width of surrounding roads. As a result, redevelopment efforts for societies situated on narrow roads in Ahmedabad, such as those in Vastrapur, have been stalled. Currently, road widths in Vastrapur village measure 7, 7.5, and 9 metres. As the redevelopment of older societies has stalled, traffic congestion has escalated. However,…

Latest StoriesResidential

Illegal PG in Ahmedabad’s Science City LIG Housing Sealed

AHMEDABAD: On Tuesday evening, authorities took action to close an illegal paying guest facility operating within the Ahmedabad Municipal Corporation (AMC’s) LIG residential scheme in the Science City area, specifically the Gota ward. The Everest Enclave project, part of the Pradhan Mantri Awas Yojana, consists of six blocks and 336 houses. Based on complaints, the AMC’s vigilance team (estate/TDO) executed a surprise raid, discovering that House No. 305 in Block 2 and House No. 105 in Block 5 were being rented out as paying guest accommodations. The inspection revealed that House No. 105 was functioning as a PG facility, while…