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Nearly five lakh houses to benefit as Gujarat notifies redevelopment rules

Posted by Urban Avenues on December 27, 2019
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Developers upbeat as amendments will put all redevelopment projects on fast track; nearly 5 lakh households to benefit

AHMEDABAD: The final rules of the Redevelopment Act were notified on Thursday. With this, societies that had been waiting for redevelopment will be able to go ahead with their plans.

The draft rules of the Gujarat Ownership Flats (Amendment) Rules, 2019 (Redevelopment Act), were released by the State government in July this year. The government had invited objections and suggestions from public and various stakeholders for the same.

After studying it, the urban development department framed the rules which have now been published in the official gazette.

The declaration brings lot of cheer to developers in the city as it will put redevelopment projects on fast track. Approximately 5 lakh households in nearly 10,000 housing societies in Ahmedabad could benefit from the amended Act. Of these, around 3,000 societies are in western Ahmedabad.

Jaxay Shah, chairman of Confederation of Real Estate Developers’ Associations of India (CREDAI), said, “It is a welcome step by the state government which will give opportunity to those living in old homes to opt for a quality life after redevelopment of their scheme. Now what is needed is synergy between state government, local authorities and judiciary to make it possible.”

Meanwhile, experts also showed concern over certain gaps which needs to be addressed for successful results.

Chairman of Sun Builders, NK Patel said, “Government has tried to amend the Redevelopment act rules but there are certain clarifications required by means of standing orders to make it successful for societies and developers.”

News Linkhttps://realty.economictimes.indiatimes.com/news/residential/nearly-five-lakh-houses-to-benefit-as-gujarat-notifies-redevelopment-rules/72988030

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