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Gujarat Real Estate Updates

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  • Re : Gujarat Real Estate Updates

    Gujarat government to introduce new tenancy act for rented properties

    Although the new act will be structured to ensure impartiality to both owners and tenants of properties, the new act is expected to shield property owners from unwarranted harassment by tenants.
    GANDHINAGAR: Adopting the government of India's Model Tenancy Act 2021, the Gujarat government plans to introduce a new tenancy act for the state to replace the Bombay (now Gujarat) Rents, Hotel and Lodging House Rates Control Act, 1947.

    Although the new act will be structured to ensure impartiality to both owners and tenants of properties, the new act is expected to shield property owners from unwarranted harassment by tenants.

    The new law is expected to facilitate the growth of rented properties in the state. The existing laws give less protection to owners, who are apprehensive of renting out properties as they fear harassment by tenants who do not vacate the premises.

    The new act will have a provision to establish a state-level authority to regulate the rented property market.

    A source privy to the development said the state government has decided to replace The Bombay (now Gujarat) Rents, Hotel and Lodging House Rates Control Act, 1947, with a new tenancy act on the lines of the model act by the government of India. "The state government is likely to adopt the model act with no or minimal changes during the coming monsoon session of the state assembly," sources said.

    The model tenancy act makes it mandatory for the landlord and tenant to sign a written agreement which specifies the rent, period of tenancy and other related terms. The state government will establish a body on the lines of RERA (Real Estate Regulation Authority) to regulate all rented property transactions.

    The model act recommends that the security deposit be capped at two months' rent for residential premises and six months' rent for non-residential (commercial and industrial) premises. The new act will have a provision on sub-letting of properties.











    Gujarat government to introduce new tenancy act for rented properties, Real Estate News, ET RealEstate (indiatimes.com)
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    • Re : Gujarat Real Estate Updates

      Ahmedabad civic body wants councillors to allocate their funds to develop societies

      The AMC standing committee has passed a resolution, asking government to allow councillors to allocate their funds to develop private societies. If this is approved, societies will have to bear only 10% of the expenses.
      AHMEDABAD: Does your society need cemented roads, drainage lines, or streetlights? If things go as planned, your councillor will be able to grant you funds and share the burden of expenses needed for these works.

      The AMC standing committee has passed a resolution, asking government to allow councillors to allocate their funds to develop private societies.

      If this is approved, societies will have to bear only 10% of the expenses. Till now, residents used to shell out 20% of the cost.

      So far, councillors grants were not included in the Swarnim Jayanti Chief Minister Shaheri Vikas Yojna for infrastructure development works.

      Standing committee chairman Hitesh Barot said, “This yojna enabled societies to get cemented roads, drainage or stormwater lines, paver blocks and other infrastructure. Till now, government bore 70% of the project cost while societies bore 20% and MLAs bore 10%.”

      He added, “As per the new proposal, the government will continue to bear 70% expenses. However, societies will have to fork over only 10% as 10% of the funds will come from the AMC budget and the remaining 10% will be paid from the MLA or councillor’s grant. This way, we will be able to cover more societies.”

      So far, over 900 societies have benefited from the scheme and over 200-odd societies are waiting for approval.











      Ahmedabad civic body wants councillors to allocate their funds to develop societies, Real Estate News, ET RealEstate (indiatimes.com)
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      • Re : Gujarat Real Estate Updates

        Ahmedabad's tallest residential project opposite Science City in limbo

        The Ahmedabad Municipal Corporation (AMC) is presently examining the project after having been intimated by the state government last week. If the project passes, it will be at the 92.4 metre building height of three buildings that is expected to come up on the Sabarmati riverfront.


        AHMEDABAD: The city’s upcoming tallest residential building at Science City — 110 meters tall, 30 floors — the project is currently stuck in limbo.

        The reason being that the state government’s urban development department, after having announced the finalization of the development control regulations (DCR) in May this year, is yet to constitute a technical committee, involving engineering institutions and government experts. The committee was to review building design and run simulation studies on horizontal load — how the building would react during earthquake — and wind load.

        The Ahmedabad Municipal Corporation (AMC) is presently examining the project after having been intimated by the state government last week. If the project passes, it will be at the 92.4 metre building height of three buildings that is expected to come up on the Sabarmati riverfront.

        According to plans available with the AMC, the skyscraper residential project, spread over a 14,000 square yard plot just opposite Science City will consist of 348 units.

        There are plans for 3 and 4 BHK apartments of 3,500 sq ft, 4,500 sq ft and 5,500 sq ft carpet area. When TOI contacted the developer, Prakash Karsan Patel, he said, “The DCR was finalized two months back while I had submitted the project eight months earlier for consideration.”

        Under the current general DCR, the maximum limit of any building was earlier confined to maximum 45m, since the 2001 earthquake. It was then raised to 70m — which translates to 22 or 23 floors — in 2017.

        The new policy for tall buildings that was announced in August 2020 allowed builders to make the sky their limits, provided a road of at least 30m width adjoined the plot. The developer also has to procure an NOC from the Union civil aviation ministry or Airports Authority of India (AAI).

        Sources in the AMC claimed that skyscrapers can come up in zones that have a Floor Space Index (FSI) of more than 1.2. The new policy allows an FSI of 5.4 but the developer will have to pay for FSI above 1.2 at 50% of the jantri value (revenue ready reckoner rates) of the non-agricultural land.









        Ahmedabad's tallest residential project opposite Science City in limbo, Real Estate News, ET RealEstate (indiatimes.com)
        Last edited August 3 2021, 12:57 PM.
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        • Re : Gujarat Real Estate Updates

          Gujarat allows conversion of GHB housing units from leasehold to freehold

          The state urban development and urban housing department wrote a letter to the GHB commissioner on July 30, 2021, stating that the state government has cleared a proposal to convert leasehold properties to freehold properties on payment of a one-time jantri.
          GANDHINAGAR: In a significant development, the state government has cleared a proposal to convert housing units of the Gujarat Housing Board (GHB) from leasehold to freehold on payment of a fixed jantri amount.

          The state urban development and urban housing department wrote a letter to the GHB commissioner on July 30, 2021, stating that the state government has cleared a proposal to convert leasehold properties to freehold properties on payment of a one-time jantri.

          Apart from generating income for the state government, the move will pave the way for residents to own such properties, which they currently hold on lease. Not only will the residents get higher income from sale of these properties, they can also opt for redevelopment.

          The issue of Gujarat Housing Board tenants not being able to legally sell their properties was being represented to political leaders for quite some time now. The matter also came up for discussion when the Union home and co-operation minister asked officials to resolve pending issues of GHB tenants.

          Occupiers of GHB properties –residential units in buildings, row houses or tenements – hold properties on lease for a fixed period (mostly 99 years). They are not in a position to sell these properties as these are not freehold properties.

          With several GHB houses being in posh areas,occupants of GHB houses will opt for converting their properties from leasehold to freehold, say those in the real estate sector. “Once they get the ownership, they will be able to sell these properties to anyone without requiring prior permission. If all the members of the housing society agree, they can even opt for redevelopment as well,” said a real estate expert.

          During his last review meeting of pending issues in Gandhinagar Lok Sabha constituency, Amit Shah had asked officials to work out a solution to pending issues of GHB occupants. Several areas of Ahmedabad where GHB houses are located, fall under the Gandhinagar LS constituency.










          Gujarat allows conversion of GHB housing units from leasehold to freehold, Real Estate News, ET RealEstate (indiatimes.com)
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          • Re : Gujarat Real Estate Updates

            Ahmedabad Municipal Corporation sets up cell to boost air quality

            TNN / Updated: Aug 11, 2021, 12:06 IST


            Ahmedabad Municipal Corporation (File Photo)

            AHMEDABAD: Amdavadis breathed easy during the lockdown. With vehicles off the road and industries shut, the air was cleaner and the masks filtered out the rest. However, once the government started relaxing lockdown and then the subsequent curfews, Ahmedabad’s air quality began deteriorating.

            The Air Quality Index (AQI) reported to be ‘poor’ and even ‘very poor’ for several consecutive days. To tackle this, the civic body has finally set up an Air Quality Management Cell (AQMC) and initiated the process of hiring an expert consultant to implement its Action Plan for Control of Air Pollution in Ahmedabad (APCAPA).

            “The civic body has recently set up a special cell for air quality management. The cell will coordinate between state agencies and see to the implementation of the action plan to improve Ahmedabad’s air quality,” a senior AMC official said.

            He added that the consultancy will help the civic body in planning and implementation of the air action plan. “We need expert advice of environment engineers in many aspects of the action plan. As soon as we hire the consultancy we will begin implementation of the action plan to control air pollution in the city,” the official said.










            Ahmedabad Municipal Corporation sets up cell to boost air quality | Ahmedabad News - Times of India (indiatimes.com)
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            • Re : Gujarat Real Estate Updates

              379 sq km of city is dusty, satellite images show




              Ahmedabad: Recently, a team of urban planners rummaged through a number of aerial satellite images of Ahmedabad city taken since 1991, focusing on the Normalized Difference Vegetation Index (NDVI). The index quantifies vegetation.

              They found that Ahmedabad’s dense green cover had increased by just 10% despite the countless tree-plantation drives, and the area covered by dust had decreased by merely 13% to 379.2 sq km between 1991 and 2019.

              On the other hand, the built area —areas with buildings or construction — increased from a little above 140 sq km in 1991 to more than 350 sq km during the period in question.

              Back in 1991, about 440 sq km of Ahmedabad district’s surface was covered in dust which rose to 682 sq km in five years in 1996, and then gradually began coming down to 574 sq km by 2001. Since then there has been only a gradual decline in the dusty surface. The study was conducted by the Institute of Architecture and Planning, Nirma University. It clearly pointed out that the increase in the built-up area of the city has resulted in a decrease in the overall vegetation cover.

              “Such conversions largely impact the ecology of a city. This has a direct impact on environmental degradation and is also observed through the analysis of the air pollution data of the city,” said the study. Its researchers are Vibha Gajjar, Utpal Sharma, and Hetankshi Shah.

              The study also pointed out that an increase in the number of private vehicles, haphazard dumping of solid waste and its burning, and the release of industrial waste into the air were some of the contributors to air pollution in Ahmedabad. “Such type of activities affect the quality of air, as well as cause the heat island effect resulting in temperature level rise,” said the study. It was published in Elsevier journal’s report called Current Research in Environmental Sustainability.

              The study observed that the average Air Quality Index (AQI) for Ahmedabad was 163 in 2014,150 in 2015,177 in 2016, and 180 in 2017.

              The AQI level of 2018 fell to 173 and in the year 2019 it came down to 136. From 2020 till August the AQI average further reduced drastically to 105. According to norms and standards, the AQI range should be 0 to 50 and for the average quality, it can range between 50 and 100.











              379 sq km of city is dusty, satellite images show | Ahmedabad News - Times of India (indiatimes.com)
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              • Re : Gujarat Real Estate Updates

                Groundwater goes deep underground near Ahmedabad

                TNN / Updated: Aug 23, 2021, 07:22 IST


                The situation has led the Gujarat Water Resources Development Corporation (GWRDC) to urgently procure 2,200 groundwater-level measuring devices and a similar number of water quality testing kits to assess the presence of fluoride and arsenic

                AHMEDABAD: Mehsana today is one of the worst affected districts in the state when it comes to rapid groundwater depletion. Mehsana, Ahmedabad’s neighbour, is suffering because groundwater exploitation has remained unchecked.

                The situation has led the Gujarat Water Resources Development Corporation (GWRDC) to urgently procure 2,200 groundwater-level measuring devices and a similar number of water quality testing kits to assess the presence of fluoride and arsenic.

                The urgency is not without reason. A recent study by the Indian Institute of Remote Sensing, Isro, Dehradun; IIT-Dhanbad; and the department of remote sensing and GIS, University of Jammu, published on February 6 this year painted a grim picture. The study said that Mehsana district faced a critical problem with 151.17% of groundwater being exploited in eight talukas of the district since 2004.

                The first alarm about groundwater over-extraction in the country rang out almost three decades ago in Mehsana, coastal Saurashtra, and Kutch in Gujarat. Warnings were also given for Coimbatore in Tamil Nadu, Kolar in Karnataka, Jaipur in Rajasthan, Chandigarh in Haryana and Punjab, and Dewas in Madhya Pradesh.

                “The equipment to measure groundwater levels is being procured under the Atal Bhu Jal Yojana which was launched by the central government in December 2019. The prolonged Covid period had delayed the project,” said a senior official of the GWRDC. “We are also installing rain gauges across the district to correlate rainfall and groundwater recharge.”

                It is worth mentioning that the groundwater storage (GWS) change between 2003 and 2007 varied from 60mm/year to 72 mm/year.

                “The GWS depletion had begun early in Mehsana largely owing to cash crops as they require a lot of water,” the official said. “There has been a shortage of water for cash crops such as cumin, isabgul, and wheat.”

                In the 24 villages between Vijapur and Mansa, water is available only at about 1,200 feet; the figure was 600 feet earlier. Farmers are being forced to quit agriculture and they can’t find jobs.
                Produce prices are not sustainable and farmers are thus angry at the government.

                The Atal Bhu Jal project, powered by World Bank funding, focuses on drawing a framework for participatory groundwater management and bringing behavioural changes at the community level for sustainable resource management.

                Seven states were chosen for the scheme: Gujarat, Haryana, Karnataka, Madhya Pradesh, Maharashtra, Rajasthan, and Uttar Pradesh. In these states, 8,350 gram panchayats in 78 districts are being considered.










                Groundwater goes deep underground near Ahmedabad | Ahmedabad News - Times of India (indiatimes.com)
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                • Re : Gujarat Real Estate Updates

                  Stamp duty increases 148% during April to July this year in Gujarat


                  Significantly, compared to the corresponding period last year (2020), the revenue from stamp duty and property registration has spiked 148% in the period from April to July this year, reflecting a huge spurt in real estate transactions since April this year.GANDHINAGAR: Even as Covid-19 cases in the state are hovering at a bare minimum for the past few weeks, economic activity is registering an impressive growth. The state government’s income from various sources has increased by 36% in the period from April to July this year, as compared to the same period last year.

                  Significantly, compared to the corresponding period last year (2020), the revenue from stamp duty and property registration has spiked 148% in the period from April to July this year, reflecting a huge spurt in real estate transactions since April this year.

                  In the month of July, 2020 which was just after the lockdown, the income from stamp duty & registration fees was Rs 588 crore. In July this year, the income from stamp duty and registration touched the Rs 968 crore mark. Considering the April to July period, the revenue from stamp duty and registration in 2020 was Rs 1,234 crore. This year, the income from stamp duty and registration between April and July stands at Rs 3,061 crore.

                  Such impressive has been the stamp duty and registration revenue that the state government has earned 34% of its annual budgetary target of Rs 8,700 crore in the first four months of the financial year.

                  According to official figures of the state government, the number of property documents registered in the first four months of 2020-21 were 1.94 lakh, which increased to 4.07 lakh in the first four months of 2021-22, reflecting a whopping 110 % jump in total number of registered sale deeds in the state.

                  However, the state’s major source of income - Goods & Service Tax (GST) income has grown by only 6% in the first four months of the ongoing fiscal year as compared to the same period last year. Revenue from stamp duty and registration grew by 148% in the first four months of the present fiscal year as compared to the same period last year. Motor vehicles tax has registered a growth of 110% in the first four months of the financial year as compared to the corresponding period last year.

                  VAT (value added tax) on petroleum products showed a 81% jump in revenue in the first four months of the ongoing financial year as compared to the corresponding period last year. Government revenue from sale of liquor (prohibition & excise tax) has registered a 61% hike in the April-July period this year as compared to the same period last year.

                  Although the overall income of the government from all sources showed a marginal drop in the year 2020-21 (Rs 79,793 crore) as compared to the previous financial year 2019-20 (Rs 86,534 crore), the government is upbeat that it will be able to cross the Rs 1,08,035 crore revenue target this year.












                  Stamp duty increases 148% during April to July this year in Gujarat, Real Estate News, ET RealEstate (indiatimes.com)

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                  • Re : Gujarat Real Estate Updates

                    Ahmedabad civic body launches single-window TDR clearance for heritage homes

                    The committee was also informed that 13 listed heritage buildings have been demolished while 230 heritage homes are yet to tagged with special heritage plates.
                    AHMEDABAD: Four years after it was inscribed a world heritage site, the Ahmedabad Municipal Corporation (AMC) has now launched a ‘single window clearance’ system for heritage conservation and restoration permissions for owners of listed heritage homes and institutions. The standing committee on Thursday approved the policy.

                    The committee was also informed that 13 listed heritage buildings have been demolished while 230 heritage homes are yet to tagged with special heritage plates.

                    According to the new policy, owners of heritage properties in the walled city will not have to apply separately for heritage elements assessment, road line deductions and to the ASI for NOCs to apply for transfer of development rights (TDR) certificates. TDR can be sold to developers so that the funds can be used by heritage home owners for repair and conservation.

                    “Earlier, the applicant had to submit three different affidavits to three different departments for permissions. Now this will not be the case. An applicant who wants to restore his or her property has to apply to the AMC on a Rs 300 stamp paper. The rest will be handled by the AMC,” said a senior AMC official.

                    AMC standing committee chairman Hitesh Barot said detailed documentation of timber heritage buildings is being prepared and will be provided to the individual home owners free of cost.

                    “With this new arrangement, there will be greater co-ordination between the town development officer (TDO) and the heritage department of the AMC while processing files for TDR purposes,” said a senior AMC official.

                    Sources told TOI that the AMC is yet to come out with a conservation plan for the heritage zone. It is reliably learnt that it has also not finished documenting the 1,800 timber havelis — a document that was to be submitted to Unesco by September 2019.

                    The AMC has thrice failed to meet deadlines it had committed to Unesco since October 2017.

                    Now, anticipating a surprise review visit from the Unesco thinktank International Council on Monuments and Sites (ICOMOS), the AMC wrote to ASI in Delhi a fortnight ago, to appeal to Unesco for an time extension so it can come out with a conservation plan, citing Covid as the reason for the delay.












                    Ahmedabad civic body launches single-window TDR clearance for heritage homes, Real Estate News, ET RealEstate (indiatimes.com)
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                    • Re : Gujarat Real Estate Updates

                      Ahmedabad: I-T department conducts searches at premises of Sambhaav Group

                      The searches, which were initiated around 6 am in different parts of the city, are expected to continue for a couple of more days, he said, adding that the searches are being conducted to detect tax evasion, if any.
                      AHMEDABAD: The Income Tax department in Gujarat on Wednesday launched a search and seizure operation at the premises of media and real estate company Sambhaav Group and two brokers associated with the firm, a senior official said here.

                      A team of 100 I-T officials initiated the search and seizure operation at 20 premises, including residences of key people associated with the real estate arm of Sambhaav Group and two real estate brokers - Yogesh Pujara and Dipak Thakkar, the official said.

                      The searches, which were initiated around 6 am in different parts of the city, are expected to continue for a couple of more days, he said, adding that the searches are being conducted to detect tax evasion, if any.

                      Sambhaav Group, which is also in the media and publishing business, runs a Gujarati news channel, but the operation is restricted to the company's real estate business.

                      As per the company's website, its real estate arm - Nila Infrastructure Ltd - is the "flagship unit of the Sambhaav Group of Companies".

                      Sambhaav Group's media portfolio includes Gujarati news channel VTV NEWS, Abhiyan magazine, evening newspaper Sambhaav Metro and radio station TOP FM.

                      The present channel head Hemant Golani claimed that "raids" are also being conducted in the premises of VTV NEWS.

                      Earlier in July, the I-T department had conducted searches at the city-based headquarters of Gujarat's leading newspaper Divya Bhaskar, owned by Daink Bhaskar group.








                      Ahmedabad: I-T department conducts searches at premises of Sambhaav Group, Real Estate News, ET RealEstate (indiatimes.com)


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