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Gujarat builders take back door to bourses
Acquire Small Listed Firms To Enter Secondary Market Faced with difficulties in raising funds through banking channels, Gujarat’s realtors are taking a back-door entry into the capital markets by acquiring lesser known, small-sized listed companies and merging their firms with it. The logic is simple. Getting a realty company listed on the bourses is an arduous [...]
Continue reading...More land in offing for industries, SEZs, SIRs
30. July 2010
Fast pace of industrialisation and urbanisation in Gujarat has forced the state government to kick-start a new process of reducing the area required for Narmada command area, 18.45 lakh hectares (ha). Terming it as “decommanding” the area meant for irrigation with Narmada waters, officials estimate that roughly 40,000 ha falling within the proposed high-profile Delhi-Mumbai [...]
Continue reading...GIDC bans resale of vacant plots
21. July 2010
In an important policy decision to curb widespread real estate speculation in 181 Gujarat Industrial Development Corporation (GIDC) estates, Gujarat government has decided to bar resale of vacant plots. “The decision is expected to force those who have bought plots in GIDC estates just for investment purpose to either set up factory on the [...]
Continue reading...Bopal residents furious over Auda’s differential charges
6. July 2010
After demanding betterment charges — which was anything between Rs 4,000 to Rs 2.5 lakh — for old Bopal properties in June, Ahmedabad Urban Development Authority (Auda) has come out with a new fee schedule called “development charge” to be levied on projects from July 1 onwards. The development charge is specific for properties and projects [...]
Continue reading...Arvind, B Safal join hands to build affordable houses
27. June 2010
Textile major Arvind Ltd has joined hands with Ahmedabad-based realty firm B Safal to launch a Rs 225-crore residential complex, about 1 km away from the happening Kankaria lake. The two companies have floated a 50:50 joint venture for the project. The JV will develop a residential complex in one-third of the area — 33,000 [...]
Continue reading...Builder accused in land scam held
22. June 2010
Auda Officials May Be Questioned State CID (crime) officials arrested a builder in connection with a land scam case in 2007 and have started hunt for other accused in the case. According to investigators, Pravin Patel, an Ahmedabad-based builder, owned land in Ahmedabad rural jurisdiction. Another builder Chitrak Shah allegedly encroached on his land and later [...]
Continue reading...Ahmedabad: 3 city realty firms plan IPOs
17. June 2010
The changing skyline of Gujarat cities is also changing the rules of the game for realtors. With the cities pushing their boundaries and big realty firms eyeing a pie in the development cake, local developers are turning to capital markets to raise resources to ride the next growth wave. While JP Infrastructure Ltd (JPIL), popularly known [...]
Continue reading...METRO RAIL ONLY FOR WEST AHMEDABAD
13. June 2010
Govt Shelves Kalupur To Income-Tax Circle Link Of Proposed Metro Rail Network The proposed metro rail project is now slated exclusively for the west Ahmedabad. The state government has shelved plans to connect the metro to Kalupur from Income-Tax circle. Earlier, plans for an underground metro rail on Relief Road were also shelved because of [...]
Continue reading...12000 new houses in Ahmedabad by 2012
31. May 2010
Moot Question For Amdavadi Buyers Is Will This Mean A Correction In Prices, Or More Speculation In Real Estate Come 2012, and the city might be on the threshold of a realty boom, especially in the housing sector. By the end of year 2012, people living in Ahmedabad Municipal Corporation’s limit will see the mushrooming [...]
Continue reading...Gandhinagar Hotels aims to invest Rs 100 crore for residential project
24. May 2010
After tying up with ITC’s Fortune Hotels for a hospitality project in Gujarat, Gandhinagar Hotels Limited is now planning a real estate development project. The company plans to invest around Rs 100 crore for residential properties between Ahmedabad and Gandhinagar. “Apart from hospitality projects, we are also interested in constructing residential properties. We are negotiating land for [...]
Continue reading...Housing scheme built without NOC, Three Auda Officials Suspended
18. May 2010
Before you book that dream house,make sure the builder shows you a copy of the ‘approved’ revised plan of the housing society and a No Objection Certificate (NOC) by Ahmedabad urban Development Authority (Auda) or Ahmedabad Municipal Coporation (AMC) depending on the jurisdiction. On Monday, three Auda officers were suspended for allowing construction of an illegal [...]
Continue reading...Bopal flat buyers pays for govt, builder tangle
13. May 2010
Dream apartments in Bopal just got dearer, even for those who had already bought or booked flats. Realtors constructing high rise apartments in the new proposed residential zone 2 may well have to buy extra FSI from Ahmedabad Urban Development Authority (Auda) to resume construction after the state urban development department’s notice period ends in [...]
Continue reading...Parsvnath Planning an Exit from Ahmedabad- Sources
28. April 2010
Parsvnath Developers Ltd, one of the leading real estate companies in the country, are planning to move their operations out of Ahmedabad, if industry sources are to be believed. After selling its top property in Satellite for around Rs150 crore last month; the company recently sold off another prime land for Rs 30 crore in Vastrapur, [...]
Continue reading...Gujarat to Set up Special SEZ for Defence Sector
21. April 2010
With the increased efforts by the Ministry of Defence of opening up opportunities for private sector, the Gujarat government also seems to be leaving no stone unturned. The state government is planning to set up a dedicated special economic zone (SEZ) for offsets in the defence sector. “We have floated the idea of setting up [...]
Continue reading...Gujarat realtors eye biz in Latin America
14. April 2010
About 100 realtors from Gujarat have planned a visit of Brazil and Argentina in July to explore business opportunities there. Unlike previous overseas trips, which were mostly academic in nature, the builders are now looking at opportunities to develop greenfield realestate projects in the two Latin American countries. The fortnight-long tour is to be organised jointly by [...]
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23. August 2010
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