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The real estate industry in Ahmedabad is facing confusion over the utilization of transferable development rights (TDR) due to revised jantri rates. Projects are stalled at the plan passing stage as the Ahmedabad Municipal Corporation seeks clarification on calculating jantri rates for TDR after April 15. Developers are unsure if they can use TDR at old rates for projects launched after that date. The uncertainty has caused delays and clearance issues. Prompt clarification is necessary to resolve the situation and ensure smooth functioning of the real estate market in Ahmedabad.Read more
Ahmedabad Municipal Corporation (AMC) has approved a proposal to blacklist Jyoti InfraTech and Vande Mataram Projects Pvt Ltd for a period of five years. The companies failed to complete seven housing projects worth over Rs 500 crore within the agreed-upon timeframe. The AMC now faces the burden of Rs 100 crore to restart the projects with new contractors. The decision serves as a warning to other contractors and highlights the importance of adhering to project timelines. The AMC will need to find new contractors to ensure the completion of these housing initiatives.Read more
The Ahmedabad Municipal Corporation (AMC) sealed 38 properties, including 14 in Ranip and 10 in Vastral, over non-compliance with building-use permits. In addition to sealing buildings, AMC embarked on a demolition spree, razing illegal constructions in the historic Walled City. An illegal structure spanning 490 square meters in Shahpur and unauthorized constructions over 13,080 square meters in Danilimda were dismantled. This enforcement highlights AMC's determination to uphold building regulations, underscoring the necessity of legal compliance in urban development.Read more
The Ahmedabad Municipal Corporation (AMC) is taking strict actions against property tax defaulters. It recently published a list of 313 defaulters intimated owners that it will disclose the details of any individuals who fail to meet their obligations to the Credit Information Bureau (India) Limited (CIBIL). These actions led to 55 property owners clearing their outstanding dues. In addition, the AMC is compiling a record of major debtors and intends to impose liens on their properties. Currently, the process of placing liens on 24 properties has already been initiated and the civic body gearing up to auction 258 defaulting properties within the city to collect arrears.Read more
The Ahmedabad Municipal Corporation (AMC) experienced a surge in project approvals and revenue collection during a period between March 1 and April 15. A total of 560 projects were approved, resulting in a substantial amount of Rs 784 crore collected from developers through chargeable Floor Space Index (FSI) and other fees. This influx of revenue can be attributed to the announcement of the jantri revision, which led developers to seek approvals based on the old rates to minimize costs. The relaxation of chargeable FSI for affordable housing projects further accelerated the rush among developers.Read more
The town planning committee of Ahmedabad has raised alarm among developers by announcing that buildings in the 200m buffer area of prime zones, which were initially outside the zone when the town planning scheme was formulated, will not be permitted to have an FSI of 4. This ruling will impact plots that were once part of the buffer zone but were later moved outside. The objective behind this decision is to prevent individuals from deceiving the corporation to obtain a higher FSI. As a result, this ruling will have substantial consequences for developers and landowners situated close to premium thoroughfares such as the Metro, BRTS, TOZ, and CBD.Read more
The Ahmedabad Urban Development Authority (AUDA) revealed a 0.55% to 28.4% price increase for five Bopal plots in just two years. Bopal's strategic location and improved infrastructure have contributed to its real estate boom. AUDA's recent evaluation of 17 plots, including the Bopal properties, resulted in a combined value of INR 1,238.35 crore. The new jantri rates, which have doubled, may further accelerate property value growth. Bopal's rapid development is attracting real estate investors and developers, making it a key player in Ahmedabad's thriving real estate market.Read more
The Ahmedabad Urban Development Authority (AUDA) has decided to auction 18 plots in different regions of the city for residential and commercial use at a base price of Rs 1,238.35 crore, with the most expensive plot in Vejalpur's TP Scheme 6 priced at Rs 2.84 lakh per sq. m. AUDA's land pricing committee met twice, once on March 9 and again on April 13, to establish the values and base prices for these plots, ignoring the impending increase in jantri rates on April 15. Despite the increase in jantri rates, AUDA officials stated that the new rates would not impact the plot prices as the valuation took into account sale deeds and other factors.Read more
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The civic body in Ahmedabad has cleared construction plans for thousands of residential and commercial buildings, but urban planners say tall buildings with multi-level basement parking are hindering tree growth. Despite leaving margin spaces around the buildings for trees, the small margin of 3m in the basement is not enough for trees to grow roots. Green roofs and walls, and permeable pavements are possible solutions to increase space for plants to grow while also improving air quality and reducing the urban heat island effect.Read more
The Ahmedabad Urban Development Authority (AUDA) has repurposed INR 20 crore from unclaimed builders' deposits to plant 100,000 trees within its jurisdiction during 2022. Accumulated over 15 years, the fund was originally collected as a guarantee from builders who promised to plant trees in their projects, as per the CGDCR 2017 regulations. AUDA's innovative move has not only amplified the city's green cover but also set a benchmark for other urban development bodies in effectively utilizing unclaimed resources for environmental conservation.Read more
The Ahmedabad Municipal Corporation (AMC) has adopted a "zero tolerance policy" against property tax defaulters and has started putting liens on properties whose owners have not paid their taxes. The move is expected to compel defaulters to pay their dues along with the 18% interest rate mentioned in the lien, and to reduce the number of tax defaulters. The AMC is currently drawing up a list of tax defaulters and will prepare a standard operating procedure for imposing liens.Read more
The revenue department of Ahmedabad Municipal Corporation (AMC) has introduced a scheme to encourage people to pay their property tax in advance. This scheme offers a 12% tax interest rebate for those who pay their property tax between April 18 and May 17, and an additional 1% rebate if the payment is made online. Those who have paid their taxes in advance in the last three years will benefit from an additional 2% rebate. Additionally, those who have paid their advance taxes through online methods for three years will receive a 1% additional rebate.Read more
Police evicted 17 families from Rameshwar Apartment in Sola, Ahmedabad, amid a disagreement over the redevelopment of the High-Income Group (HIG) society. The large-scale project includes residential and commercial properties, but some residents claim they were initially told it would be exclusively residential. The eviction highlights the challenges of urban development projects, the importance of transparent communication, and the potential impact of evictions on the affected families.Read more
The Ahmedabad Municipal Corporation has continued with the existing slum redevelopment policy, despite heavy criticism and several appeals for change. In 2016, the Comptroller Auditor General (CAG) published a report stating the policy was flawed and skewed towards private bidders. The CAG found that land premiums were fixed without consideration of the formula agreed upon by the government, and builders paid rates much higher than existing jantri rates. However, the policy continues to remain unchanged, thereby causing crores of financial loss.Read more
The combination of an 18% GST and an increase in the Jantri rates has deterred potential buyers from participating in the recent plot auctions organized by the Ahmedabad Municipal Corporation (AMC). The auctions featured seven plots in prime locations within the city, with a base price of Rs 499.72 crore and a 99-year lease. The plots were situated in Bodakdev, Thaltej, Vastral, and Nikol. However, none of the developers showed any interest in purchasing these plots.Read more
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