{"id":3164,"date":"2022-03-12T12:01:42","date_gmt":"2022-03-12T12:01:42","guid":{"rendered":"https:\/\/newsnetworks.co.in\/en\/2022\/03\/12\/ahmedabad-ready-for-redevelopment-more-clarity-needed\/"},"modified":"2022-03-12T12:01:42","modified_gmt":"2022-03-12T12:01:42","slug":"ahmedabad-ready-for-redevelopment-more-clarity-needed","status":"publish","type":"post","link":"https:\/\/newsnetworks.co.in\/en\/2022\/03\/12\/ahmedabad-ready-for-redevelopment-more-clarity-needed\/","title":{"rendered":"Ahmedabad ready for redevelopment, more clarity needed"},"content":{"rendered":"
\"\"<\/div>\n

Taral\u00a0Shah,\u00a0MD\u00a0of\u00a0Shivalik\u00a0Projects,\u00a0says\u00a0guidelines\u00a0are\u00a0needed\u00a0to\u00a0deal\u00a0with\u00a0non-consenting\u00a0members\u00a0in\u00a0redevelopment\u00a0projects<\/em><\/p>\n

With the pandemic situation easing, a flurry of\u00a0redevelopment\u00a0projects\u00a0are expected in Ahmedabad in the near future, he\u00a0says<\/em><\/p>\n

Ahmedabad (Gujarat) [India], March 12<\/strong>: The trend of real estate\u00a0redevelopment\u00a0is poised to grow in Ahmedabad, but more regulatory clarity is\u00a0needed, according to leading real estate developers.<\/p>\n

Redevelopment, which refers to demolishing old buildings and undertaking development afresh, has been in vogue in cities like Mumbai for decades. Redevelopment allows for better utilisation of land because of higher FSI, and some of its advantages are larger apartments, better amenities, higher resale value of property, proper parking space, improved fire safety system, among others. While redevelopment has also become popular in Ahmedabad in the past few years, the number of projects is still quite low.<\/p>\n

\u201cRedevelopment\u00a0is a must for new\u00a0projects\u00a0to come up in the prime locations of Ahmedabad, where land is otherwise not available.\u00a0Redevelopment\u00a0is beneficial for all stakeholders and must be encouraged. That said, it is comparatively a new trend in Ahmedabad, and as with any new thing, it will take some time before it gets widely accepted,\u201d\u00a0says\u00a0Taral\u00a0Shah, Managing Director of Ahmedabad-based\u00a0Shivalik\u00a0Projects, a leading real estate developer.<\/p>\n

With a view to spur redevelopment of old buildings, the state government in July 2019 amended the rules for redevelopment, making the consent of only 75% of the members necessary instead of the 100% requirement earlier.<\/p>\n

\u201cThe rule to get the consent of 75% of the\u00a0members\u00a0for\u00a0redevelopment\u00a0was to make the process easier. But, what about the\u00a0members\u00a0who are not giving their consent? There are no\u00a0guidelines\u00a0regarding how to\u00a0deal\u00a0with\u00a0non-consenting\u00a0members. The option is that the\u00a0consenting\u00a0members\u00a0take\u00a0non-consenting\u00a0members\u00a0to court, but it is a time-consuming process. What is\u00a0needed\u00a0are clear-cut\u00a0guidelines\u00a0on this aspect. This clarity will really boost\u00a0redevelopment\u00a0projects,\u201d he adds.<\/p>\n

Shah said more than 50 (approximate number pls?) redevelopment projects in Ahmedabad were in advanced stages of negotiations in late 2019 and early 2020, but most were delayed or called off because of the Covid-19 pandemic.<\/p>\n

\u201cFor the last two years, there was just too much uncertainty. Developers were willing to take up redevelopment projects despite the huge risks, but many societies withdrew from the agreements and decided to wait for the situation to return to normal. Now that the worst of the pandemic seems to be behind us, we are expecting a flurry of redevelopment projects in Ahmedabad,\u201d he says.<\/p>\n","protected":false},"excerpt":{"rendered":"

Taral\u00a0Shah,\u00a0MD\u00a0of\u00a0Shivalik\u00a0Projects,\u00a0says\u00a0guidelines\u00a0are\u00a0needed\u00a0to\u00a0deal\u00a0with\u00a0non-consenting\u00a0members\u00a0in\u00a0redevelopment\u00a0projects With the pandemic situation easing, a flurry of\u00a0redevelopment\u00a0projects\u00a0are expected in Ahmedabad in the near future, he\u00a0says Ahmedabad (Gujarat) [India], March 12: The trend of real estate\u00a0redevelopment\u00a0is poised to grow in Ahmedabad, but more regulatory clarity is\u00a0needed, according to leading real estate developers. Redevelopment, which refers to demolishing old buildings and undertaking development afresh, has […]<\/p>\n","protected":false},"author":1,"featured_media":3165,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[35],"class_list":["post-3164","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-news-networks"],"_links":{"self":[{"href":"https:\/\/newsnetworks.co.in\/en\/wp-json\/wp\/v2\/posts\/3164","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsnetworks.co.in\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsnetworks.co.in\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsnetworks.co.in\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsnetworks.co.in\/en\/wp-json\/wp\/v2\/comments?post=3164"}],"version-history":[{"count":0,"href":"https:\/\/newsnetworks.co.in\/en\/wp-json\/wp\/v2\/posts\/3164\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsnetworks.co.in\/en\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/newsnetworks.co.in\/en\/wp-json\/wp\/v2\/media?parent=3164"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsnetworks.co.in\/en\/wp-json\/wp\/v2\/categories?post=3164"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsnetworks.co.in\/en\/wp-json\/wp\/v2\/tags?post=3164"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}