Tag: Ahmedabad

Latest StoriesRera

21% of Builders Still Haven’t Filed Gujarat RERA Report

AHMEDABAD: Despite receiving an extension, only 79% of developers have submitted their annual financial reports for 2024-25, as reported by sources from GujRERA (Gujarat Real Estate Regulatory Authority). The authority has put in place a penalty system for developers who fail to adhere to the regulations. Historically, about 80% of developers complied with submitting this Form-5. GujRERA also actively pursues action against non-compliant developers. Each promoter is obligated to have their accounts audited within six months after the financial year ends for every registered project and must upload the annual report in Form-5 to their GujRERA webpage. This year, for…

IndustryLatest Stories

Gujarat’s Real Estate Transformed by Redevelopment Wave

AHMEDABAD: Gujarat’s real estate sector is undergoing a significant transformation as redevelopment and joint development projects rapidly gain traction due to rising land prices and changing business models. Official statistics reveal a notable increase in registered development agreements, indicating that builders and landowners are opting for partnership models rather than outright land acquisitions. In 2024, a total of 777 redevelopment and joint development agreements were recorded in Gujarat, generating over Rs 55 crore in stamp duty for the state government. The momentum continued into 2025, with 983 agreements registered by November 30, yielding more than Rs 59 crore in stamp…

Latest StoriesRegulatory

Ahmedabad Developers Allegedly Cheated 95 Buyers of ₹35 Crore

AHMEDABAD: On Wednesday, the Detection of Crime Branch (DCB) lodged a complaint involving significant fraud and breach of trust related to a housing project in Chharodi village. It is alleged that 95 buyers were swindled out of approximately ₹35 crore by the developers and their accomplices. The complainant claimed that the developers initiated the project without the necessary RERA registration or NA permissions, collected funds, and subsequently sold off the land. This complaint was filed on December 17 by a 35-year-old software engineer employed in GIFT City, who intended to purchase a 2BHK flat for his family near Vaishnodevi. According…

InfrastructureLatest Stories

Gujarat Govt: Submit Draft Development Plans by June 30

GANDHINAGAR: Following the successful bid to host the 2030 Commonwealth Games, the Gujarat government is accelerating urbanization efforts. They have instructed all 17 municipal corporations (MCs) and urban development authorities (UDAs) to complete their draft development plans by June 30. Additionally, 2025 has been designated as Urban Development Year to promote urban progress. Currently, the nine new municipal corporations—Navsari, Gandhidham, Morbi, Vapi, Anand, Nadiad, Mehsana, Porbandar, and Surendranagar—lack draft development plans (DPs), while the eight previously established corporations are in the process of revising theirs. In another major step, the UDD minister has directed all MCs and UDAs to complete…

IndustryLatest Stories

Ahmedabad builder invests ₹103.5 crore for FSI in Thaltej highrise

This week marked a significant step in the city’s vertical living initiative, with a builder paying Rs 103.50 crore to the AMC for additional FSI to develop a 38-storey residential project located near Gulmohar Party Plot on Hebatpur Road in Thaltej. This payment sets a new record for the highest chargeable FSI amount approved for a single project, indicating a rising demand for luxury high-rise housing. Civic officials attribute this increase to higher jantri rates and more flexible tall-building regulations. The town development department of AMC has recently approved the construction plans. Spanning an area of 9,958 sq meters, the…

Latest StoriesResidential

Residents blame Ahmedabad civic body for delaying action on illegal building

AHMEDABAD: Residents of Adhikar Co-operative Housing Society in the D-Cabin area of Sabarmati have accused the Ahmedabad Municipal Corporation (AMC) of neglecting their complaints regarding a five-storey illegal building within their property, despite raising issues consistently for the past 18 months. As per society officials, the building—which includes 24 rooms allegedly intended for renting as paying-guest accommodation—was erected without any approvals from the society, government authorities, or the AMC. Residents claim that work continued unabated even after the civic body issued notices and sealed the site. Rakesh Kumar Mishra, the society chairman, expressed frustration over the lack of action, stating,…

IndustryLatest Stories

Ahmedabad Upgraded to High-Risk Quake Zone; Realty Faces 25% Cost Hike

Representative AI image AHMEDABAD: The Bureau of Indian Standards (BIS) has announced a major revision in the seismic zoning for states across India, elevating Ahmedabad to a higher seismic risk category. The city’s classification has been upgraded from Zone III to Zone IV, a change that will affect the structural design of all new buildings approved after May 2026. Sources indicate that the new classifications will come into effect on May 3, 2026. Structural engineers will need to ensure buildings can withstand stronger earthquake forces, likely leading to an increase in material usage. Industry experts anticipate a 20-25% rise in…

Housing FinanceLatest Stories

Home Loans Rise 14%, Buyer Growth Only 7% in Gujarat

AHMEDABAD: While Gujarat’s housing finance numbers are on the rise, homebuyer sentiment remains stagnant. According to SLBC data for the September 2025 quarter, housing loan disbursements have increased by 14% year-on-year, climbing from ₹14,266 crore to ₹16,264 crore. However, the number of borrowers has only grown by 7%, from 95,532 to 1.02 lakh. This disparity highlights a healthy flow of credit but a lack of purchasing momentum, particularly among mass-market buyers. Banking sources indicate that most lending occurs in major cities such as Ahmedabad, Vadodara, Surat, and Rajkot. “Despite substantial lending activity, there is a notable decline in demand for…

Latest StoriesResidential

Ahmedabad: 11 Tenements Sealed for Illegal PGs in Thaltej

Representative AI image AHMEDABAD: Authorities sealed eleven tenements at Soham Row Houses in Thaltej for allegedly running paying guest (PG) accommodations without proper authorization from the Ahmedabad Municipal Corporation (AMC). The AMC had previously issued notices to these units, urging them to obtain the necessary permissions. However, compliance was not met, leading the estate TDO department in the North West Zone to seal three tenements on December 3 and eight on December 4. Earlier this year, a BJP Rajya Sabha MP called for legal action against unauthorized PG units during a coordination meeting with MPs and MLAs chaired by the…

IndustryLatest Stories

Ahmedabad Plans to Earn ₹473.7 Crore from Five Plots Auctioned

Representative Image AHMEDABAD: During an online auction held on Thursday and Friday, the Ahmedabad Municipal Corporation (AMC) successfully sold five plots in areas such as Shilaj, Chandkheda, Sola, and Vastral, which is projected to bring in ₹473.7 crore. Out of 13 plots listed for sale across different areas in the city, only five were sold. As per the AMC’s estate department, Final Plot No. 93 in Shilaj (TP Scheme No. 216), designated for residential use with an area of 9,765 sq m and a base price of ₹168.9 crore (₹1.7 lakh per sq m), was auctioned for ₹1.7 lakh per…