10 Oct 2024

The Ahmedabad Municipal Corporation (AMC) recently sold a 66,168 sq m plot in Chandkheda to LuLu International Shopping Malls Pvt Ltd for a notable INR 519 crore. However, AMC initially faced issues granting full possession, as 10,672 sq m of the plot was under cultivation and not fully owned by the civic body. Sources now confirm that AMC has obtained the entire plot, and a proposal will be presented at the upcoming standing committee meeting to authorize the municipal commissioner to finalize the sale deed, enabling the buyer to gain full possession.Read more

25 Sep 2024

The Ahmedabad Municipal Corporation (AMC) took significant action earlier this month by demolishing 23 illegal structures in the Fatehwadi area of Sarkhej, which included 22 residential buildings and one commercial property. These followed notices issued for a total of 51 illegal units across the region. After individuals responsible for the constructions petitioned the Gujarat High Court, the court initially granted a status quo but later ordered the petitioners to remove the structures voluntarily. With the petitioners failing to comply, the AMC proceeded with the demolition, emphasizing its commitment to enforcing urban regulations and maintaining compliance with building laws.Read more

24 Sep 2024

On August 17, Ahmedabad Municipal Commissioner M. Thennarasan issued a public notice requiring all residential and commercial buildings older than 15 years to submit structural stability certificates within 15 days. Despite the urgency, no certificates have been submitted, reflecting widespread non-compliance. The requirement, first introduced in 2014 under the Ahmedabad General Development Control Regulations (GDCR), mandates inspections by structural engineers for older buildings. However, enforcement has been weak, and many property owners remain unaware or indifferent to the rule. The lack of action raises serious concerns about public safety, prompting the Ahmedabad Municipal Corporation to consider stricter enforcement measures.Read more

23 Sep 2024

Earlier this month Prime Minister Narendra Modi launched Phase II of the Metro rail extension connecting Ahmedabad and Gandhinagar. The new phase, spanning 21 kilometers and linking crucial areas like GIFT City, offers a significant reduction in travel time. Commuters can now travel between APMC and GIFT City in under an hour for INR 35. Developed by the Gujarat Metro Rail Corporation with backing from both state and Central governments, this extension addresses a key connectivity challenge between the twin cities, improving transportation for professionals, students, and tourists.Read more

19 Sep 2024

Last week, the Ahmedabad Municipal Corporation (AMC) demolished over 35 illegal structures in the Sarkhej Ward. Despite issuing notices under Section 260 of the Gujarat Provincial Municipal Corporation (GPMC) Act, 1949, and sealing the construction sites, developers did not comply. Consequently, the AMC proceeded with the demolition in coordination with Sarkhej police. The operation targeted unauthorized residential row houses and commercial units near Hid Park and Masjid-e-Abeda, resulting in the dismantling of 17 residential and 18 commercial units.Read more

18 Sep 2024

The Ahmedabad Municipal Corporation (AMC) seized the Highland building on CG Road after property taxes of INR 1.84 crore remained unpaid for the 2023-24 fiscal year. Despite multiple notices, the owner or occupant did not settle the dues. Following an unsuccessful auction to recover the outstanding amount, the AMC took over the property. This action reinforces the AMC's commitment to enforcing property tax regulations, emphasizing the importance of timely payments to support municipal services and infrastructure development.Read more

17 Sep 2024

The Ahmedabad Municipal Corporation (AMC) is set to revolutionise its Transferable Development Rights (TDR) management by integrating blockchain technology. Moving away from error-prone manual processes, the new system will use blockchain to digitise TDRs, enhance transparency, and prevent fraud. The initiative will also extend to digital issuance of various certificates and licences. Key features include automated smart contracts, a public verification portal, and a comprehensive audit trail. Additionally, Optical Character Recognition (OCR) and e-signatures will streamline document processing and approvals, ensuring a secure and efficient system.Read more

09 Sep 2024

Pulse Candy, a leading brand of Dharampal Satyapal Group (DS Group), has been featured in a prestigious Institute of Management Ahmedabad (IIMA) case study. This recognition highlights Pulse Candy's journey from a disruptive market entry to industry leadership in the hard-boiled candy segment. The study examines DS Group's innovative marketing strategies, market identification, and product differentiation that propelled Pulse Candy to success. It covers the brand's launch, its unique appeal with tangy raw mango flavor, and its achievement of INR 1 billion in sales within eight months, despite challenges like counterfeits and shortages. This case study serves as an inspiring example of effective market strategy.Read more

16 Aug 2024

After years of delays, the Sabarmati Riverfront Development Corporation Limited (SRFDCL) in Ahmedabad is advancing with the development of four strategic plots along the Sabarmati Riverfront. With base prices set at INR 23,676 per square metre for the western plots and INR 19,982 per square metre for the eastern plots, SRFDCL aims to unlock the area's real estate potential. The initiative, part of a larger plan to develop 17 plots over 149,000 square metres, is expected to boost Ahmedabad's urban landscape, enhancing public spaces and driving future investments.Read more

13 Aug 2024

The Makarba Town Planning (TP) Scheme 204 controversy is nearing resolution as a state-appointed committee - Ahmedabad recommends a 40% reduction in plot sizes for around 50 high-profile landowners. This move aims to address years of alleged irregularities in land use. The scheme, covering 1,100 hectares in sought-after zones like Sarkhej and Vejalpur, faced accusations of favoritism since 2007. A thorough investigation confirmed these claims, and the revised plan now awaits approval from the AMC and state government. The resolution could mark a shift toward greater accountability and transparency in Ahmedabad's urban planning.Read more

08 Aug 2024

Ahmedabad's commercial property sector is experiencing a resurgence, with new project launches expected to grow by 20-25% this year. This increase follows a period of low activity due to the COVID-19 pandemic. Data from GujRERA reveals 22 new commercial and 70 mixed-use projects in FY 2024-25, compared to 67 and 236 respectively in the previous year. Transaction volumes for office spaces surged by 219% in H1 2024, with significant contributions from local and out-of-state businesses. Despite a sluggish retail segment, the commercial market's recovery suggests a positive outlook for Ahmedabad's real estate sector.Read more

05 Jul 2024

Ahmedabad-based Nila Spaces is investing INR 750 crore in a new residential project at GIFT City, signaling the area's evolution into an urban living hub. The developer secured a 5,550 sqm plot for INR 342 crore, with plans for a 100-meter tall residential building spanning 5.22 lakh sq ft. This project aims to generate over INR 1,000 crore in revenue and cater to professionals in the financial and technology sectors. With other developers like Sobha Limited also investing, GIFT City is poised to become a premier destination for both business and urban living.Read more

01 Jul 2024

The Ahmedabad Municipal Corporation (AMC) saw a surge in land demand during an online auction, with four out of six plots surpassing their base prices. The sales totaled INR 60.34 crore, significantly higher than the combined starting price of INR 37.32 crore. Notably, a commercial plot in Isanpur sold for INR 10.03 crore at INR 1.57 lakh per square meter, exceeding its base price of INR 60,000 per square meter, while a prime plot in Motera sold for INR 9.73 crore. This auction is part of AMC's broader land sale, which has generated INR 997 crore from 10 out of 22 plots over four days, reflecting strong market demand.Read more

18 Jun 2024

The Ahmedabad property market is thriving, with a 10% rise in average prices over the past year and a 45% increase since March 2019. Factors like strong developer credibility, timely project completions, and transparent financing are driving positive buyer sentiment. Despite a 64% drop in new property launches, home sales have surged by 78%, indicating healthy demand. The Gujarat International Finance Tec-City and infrastructure upgrades support long-term growth. Experts predict sustainable growth with a stable government post-election and a positive policy environment, making Ahmedabad a hotspot for homebuyers and investors.Read more

18 Apr 2024

Housing redevelopment projects are booming in Ahmedabad, with around 50 projects finalized in the last eight months and 400 more in late stages of negotiation. Areas like Navrangpura, Naranpura, Paldi and Memnagar are seeing huge potential for redevelopment. Faster deals and recent High Court order mandating approval from only 75% residents, have prompted more societies to opt for redevelopment. This has also led to high demand for rental homes in these areas. Additionally, some homebuyers who previously sought new properties in the outskirts were now interested in redevelopment as they get additional amenities in prime locations.Read more

PNT Reporter

02 Apr 2024

Ahmedabad's civic body, the AMC, has announced a significant policy change regarding temporary leases. Under the new regulations, revised jantri rates will be enforced by the AMC for these temporary leases. Notably, there will be a 25% concession on rent specifically for plots utilized for commercial purposes. Previous plots rented for various activities will now reflect updated jantri rates, signaling a significant policy shift. This move marks a shift in the city's land management strategy, aiming to streamline lease processes while also providing incentives for commercial activities within the region.Read more

PNT Reporter

01 Apr 2024

The Gujarat High Court has intervened in the redevelopment saga of the Shilpalaya Co-operative Housing Society in Vasa, Ahmedabad. With buildings dating back to the mid-1980s and severely damaged, a majority decision for redevelopment was hindered by objections from just five of the 228 members. The High Court ruled in favor of progress, directing the dissenters to vacate their flats within eight weeks to pave the way for the proposed redevelopment plan. The court emphasized the urgent need for redevelopment and highlighted benefits including larger flats, financial incentives, and enhanced safety measures for residents.Read more

13 Mar 2024

The NCLT rejects Express Group's revival plan for Neesa Leisure Ltd, dismissing the proposal due to flaws in transparency and fairness. Despite creditor approval, the plan favored secured over unsecured creditors, overlooking claims on disputed assets. Now, creditors must regroup to devise a revised strategy. The decision reflects broader trends in the hospitality sector, where strategic buyers and investors are eyeing distressed assets. With over 7,000 companies undergoing resolution, including 146 from hospitality, the sector faces challenges and opportunities for restructuring amidst economic uncertainties.Read more

15 Feb 2024

The Ahmedabad Municipal Corporation's tax department sealed 2,950 properties, including commercial establishments, for failing to pay property tax. The West Zone had the most sealed properties, totaling 1,686. During the drive, officials managed to recover pending taxes amounting to INR 5.81 crore. This action underscores the municipality's efforts to enforce tax compliance and ensure revenue collection. The move sends a strong message to property owners regarding the importance of fulfilling their tax obligations promptly.Read more

07 Feb 2024

In a meticulously executed three-day online auction series from January 29 to 31, the Ahmedabad Municipal Corporation (AMC) achieved a remarkable revenue of INR 298.65 crore by selling prime plots across the city, surpassing the previous record set in May 2021. The highlight was the Bodakdev plot opposite the Rajpath Club, fetching a record-breaking INR 148 crore and setting a new per-square-meter rate record at INR 3.20 lakh. The success continued with prime plots in Vatva and Makarba on the first day, followed by commercial plots in Makarba Town Planning Scheme 26 and Saipur Bogha Town Planning Scheme 48 on the second day. The AMC's adaptive strategy positions it favorably for future developments in Ahmedabad.Read more