Gujarat RERA Seeks Govt Aid to Revive GIFT City Project
AHMEDABAD: The Gujarat Real Estate Regulatory Authority (GujRERA) has reached out to the state urban development department (UDD), seeking assistance in completing the long-delayed World Trade Centre (WTC) project at GIFT City, where numerous investor funds are currently tied up. Sources indicate that this call for intervention follows the arrest of the project’s promoter by the Enforcement Directorate (ED) over allegations of real estate fraud. The association of allotters has expressed that they are unable to proceed with the project. Officials have noted that the project, which began in 2014-15, was intended to feature four towers. While two have been…