Tag: CREDAI Gujarat

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Gujarat Real Estate Projects Stall Amid Appraisal Panel Delay

Representative AI image AHMEDABAD: Real estate project approvals in Gujarat have encountered delays following the non-functionality of the State-level Expert Appraisal Committee (SEAC) after its tenure concluded in June, according to industry representatives and government sources. Although a standing committee has been instituted via government notification, the industry is advocating for a regular committee. Sources indicated that environmental assessments for various real estate and industrial projects are stalled. The Confederation of Real Estate Developers’ Associations of India (CREDAI), Gujarat, has raised this concern with the state government. Tejas Joshi, president of CREDAI, Gujarat, emphasized, “The SEAC plays a crucial role…

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Ahmedabad Dussehra Sales Hit by Property Price Drop

AHMEDABAD: The real estate market in Ahmedabad is witnessing a slowdown this Dussehra, with demand remaining low. Experts attribute this trend to an oversupply in certain regions and rising property prices, marking this festive season as the weakest since the COVID-19 pandemic. The Confederation of Real Estate Developers’ Associations of India (CREDAI) Gujarat is hopeful for a rebound in demand, considering the potential for Ahmedabad to host the Commonwealth Games as a possible trigger. Pravin Bavadiya, former president of the Ahmedabad Realtors’ Association, stated, “While the city saw significant demand post-COVID, the current market is challenged by oversupply and escalating…