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…