Tag: Gujarat

IndustryLatest Stories

Vedanta to Split Off Real Estate into Vedanta Property Platforms

Representative AI image NEW DELHI: Vedanta’s board has sanctioned a draft scheme to demerge its real estate segment into Vedanta Property Platforms, as stated in a BSE filing. This proposed demerger, to be conducted on a going concern basis, aims to unlock value from Vedanta’s surplus real estate assets throughout India. The demerger is structured as a vertical split, where shareholders will receive one share of Vedanta Property Platforms for every 20 shares they hold in Vedanta. The surplus real estate portfolio set for demerger covers approximately 2,200 acres of industrial land and around 55,000 square feet of residential and…

IndustryLatest Stories

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…

Latest StoriesRera

50% of New Projects Face Pending Complaints: Gujarat RERA

AHMEDABAD: The Gujarat Real Estate Regulatory Authority (GujRERA) has intensified its review process for developers applying for new project registrations. Approximately 50% of the reviewed applications have been linked to promoters or partners with unresolved complaints from past projects. The authority’s more stringent measures necessitate that developers address outstanding complaints, unpaid fines, and any other dues before initiating new project registrations. In the last 15 days, about 10 new projects received provisional registrations, with directives for promoters to resolve outstanding issues within set deadlines prior to attaining full compliance, according to sources. Officials noted that this heightened scrutiny includes both…

Latest StoriesRera

Homebuyers Can Access Builders’ Complaint History on RERA

AHMEDABAD: Homebuyers in Gujarat may soon find it easier to verify the credibility of real estate developers. The Gujarat Real Estate Regulatory Authority (GujRERA) plans to publicly showcase builders’ past project records and any pending complaints on its website. In a step towards boosting transparency and accountability in the real estate sector, GujRERA will link the track record of real estate firm promoters and their partners to every new project registration. The authority may also deny approvals for new projects in cases involving serious unresolved complaints. The new system will allow homebuyers to access information about a builder’s previous projects…

IndustryLatest Stories

Gujarat Leads SVAMITVA Drive, Issues Over Half of Property Cards

Representative AI image GANDHINAGAR: The Gujarat government announced on Sunday that the state has become a leader in implementing Phase II of the Pradhan Mantri-SVAMITVA scheme, having issued more than half of the total property cards created across India. The government stated that drone mapping has been successfully completed in over 11,500 villages. According to an official statement, during the second phase of the scheme, which commenced in 2021-22, a total of 32,35,260 property cards were prepared nationwide. Out of these, Gujarat issued 18,50,614 property cards, the highest among all states. The government noted that this scheme addresses a persistent…

Latest StoriesRera

Gujarat RERA Requests Timeline Extensions for Govt Projects

AHMEDABAD: The Gujarat Real Estate Regulatory Authority (GujRERA) has reached out to the Roads and Buildings (R&B) department to inquire if there have been any extensions granted for government civil projects due to the West Asia crisis. Real estate groups are urging GujRERA to approve a six-month extension for ongoing projects, pointing to significant increases in construction costs and uncertainties in supply chains. Sources indicate that GujRERA is examining existing practices within the state government’s contracting framework before making decisions on the developers’ requests. A source from GujRERA stated, “The central government has granted extensions of two to four months…

Latest StoriesRegulatory

Ahmedabad: Partners Charged in ₹11.3 Crore Real Estate Scam

AHMEDABAD: A businessman has lodged a complaint with the Detection of Crime Branch, alleging a fraud of ₹11.3 crores involving a partnership real estate firm. He accuses two partners of misappropriating funds, misusing company documents, and unlawfully selling flats. The complainant, who manages a game zone and owns a 5% share in the real estate business, claims that the two managing partners exercised financial and administrative control over the firm. The partnership was formed in 2021 and has engaged in various real estate projects, including a residential initiative in the Sola area. The complaint emerged after an earlier application was…

Latest StoriesResidential

Gujarat Property Registrations Fall to 1,610 in FY26

AHMEDABAD: According to data from GujRERA, Gujarat’s real estate sector saw new project registrations dip to 1,610, the lowest level since the pandemic-affected fiscal year 2021. Experts attribute this decline to a combination of market saturation from recent developments and a more cautious approach by developers, following nearly four years of robust post-pandemic demand. Ahmedabad accounted for 506 of these new registrations. The robust demand observed in urban centers, particularly as homebuyers sought upgraded lifestyles, has slowed. Since FY 2021, annual project registrations have consistently exceeded 1,700, but FY 2026 marked a decline of approximately 211 projects compared to the…

IndustryLatest Stories

Gujarat Eliminates 30-Day Wait for Property Sale Certification

GANDHINAGAR: The Gujarat government has announced a significant amendment to the Land Revenue Act of 1879 concerning undisputed land transactions. This change eliminates the mandatory 30-day notice period that previously began upon signing the sale document, which allowed for objections to be raised. The amendment to Section 135D enables immediate certification of sale entries. However, certain conditions apply. If there have been changes to the property record within the past year, the sale is executed through a power of attorney (PoA), not all individuals listed in the 7/12 have consented to the sale, or if there is pending litigation, the…

InfrastructureLatest Stories

Ahmedabad’s 2041 Draft Development Plan Expected in June

GANDHINAGAR: The long-awaited draft development plan for Ahmedabad, put together by the Ahmedabad Urban Development Authority (Auda), is projected to be released in June, shortly after the local body elections. According to key sources involved in the process, substantial revisions are anticipated in the new draft development plan (DP), which will also encompass additional areas within the urban development authority’s jurisdiction. “The new DP will shift focus from a standard 10-year plan to a vision extending to 2041 and 2047, aimed at significantly enhancing the city’s infrastructure, particularly as Ahmedabad is set to host the Commonwealth Games in 2030 and…