Tag: GujRERA

Industry

GIFT City, Gujarat RERA likely to opt for new entity to complete stalled WTC project

Representative Image AHMEDABAD: GIFT City authorities have terminated the development agreement with WTC Noida Development Company Private Limited for the World Trade Center’s B and C towers following controversies and complaints filed with the Gujarat Real Estate Regulatory Authority (GujRERA). The authorities are now exploring options including allowing the association of allottees to take over the project or bringing in a substitute entity to ensure completion in order to protect the investors whose funds remain locked in the stalled project. The commercial project agreement was originally signed in 2014-15. While the developer successfully completed two towers (A and D), construction…

Rera

Developers get Gujarat RERA notices for pre-registration bookings

AHMEDABAD: The Gujarat Real Estate Regulatory Authority (GujRERA) has begun issuing notices to developers for marketing their projects and accepting bookings before RERA registration, in contravention of the RERA Act. Sources said that GujRERA is going to start a mega campaign against this practice across the state. The authority also announced new rules for the marketing of projects, which will come into effect from June 15. “The authority issued notices to some developers who started promoting their projects and taking bookings before registering them with RERA. The authority wants to ensure the safety of customers. Besides acting on complaints from…