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Real-estate Regulation and Development Bill cleared a couple of days ago by the Centre will add to the red tape in the real-estate sector, senior members of the Confederation of Real-estate Developers’ Associations of India CREDAI expressed concern over various aspects of the bill at an exhibition held in Ahmedabad, Friday A new sword by the name real-estate regulatory act is hanging over our heads. Gift City Ahmedabad An industry body we welcome the presence of a regulator, because it will ensure that people who are serious about the business will remain. But we are not too happy about some of the contents of the Bill, said Getamber Anand, president, CREDAI National Noida while addressing the CREDAI Gujcon Convention & building material Expo 2015 which was attended by Gujarat Chief Minister Anandiben Patel. He as well as pointed out a number of other issues, including the triple premiums that developer end up paying in land dealings.

Others such as Sharif Memon, president CREDAI Gujarat as well as talked about the need for updating the state’s zoning policy and extending mass transportation to cover newer areas of cities While most of the states have seen a decline in attracting new investments in the realty sector, Gujarat has seen a surge of over 700% as the state has attracted investments worth over Rs 17,000 crore as of March 2013 from just over Rs 2,000 crore a year ago said Mr D.S. Rawat, national secretary general of ASSOCHAM while releasing the study on Monday. we are hopeful that it will lift the affordable housing space, revive steel, cement and other related sectors, rev up employment scenario and boost the GDP gross domestic product growth, said Rawat. Gift City Attracted seven per cent of the total real-estate investments worth about Rs two lakh crore made by public sector across India and stayed behind Karnataka 38 per cent share and Maharashtra 14.5 per cent share in this regard. Real-estate investments in Gujarat have grown at a compounded annual growth rate CAGR of about 28 per cent during almost a decade b/w 2005-06 and 2014-15, however the state remained behind Kerala 59 per cent growth, Karnataka 40 per cent, UP 32 per cent and Rajasthan 29 per cent. The developers who have deferred new launches will be more bullish and the wait-and-watch buyers will as well as come out in the market. More importantly, the investors who had put their India plans on hold due to policy uncertainty will be back with huge investments falling into the sector. Well, beyond this macro level euphoria, Gujarat real-estate has more reasons to feel optimistic about the property market in the state. Market analysts even link it up with the policy incentives for the corporate world, in general, and the real-estate market, in particular.

Analysts are hence, optimistic that large projects such as the proposed Special Investment Region SIR at Dholera, the Petroleum, Chemical & Petrochemical Investment Region PCPIR at Dahej, the Gujarat International Finance-Tec City GIFT in Gandhinagar, the Metro-link Express for Gandhinagar to Ahmedabad MEGA and Delhi Mumbai Industrial Corridor DMIC are poised to transform the industrial scenario of the state. These are the projects that have the potential to take the urban development to the next level in this part of the world. Obviously, the real-estate market will not remain unaffected by such mega development. Gujarat is registering growth in multiple areas, adding a new chapter in the state's real-estate arena. At present, Gujarat is one of the finestand fast emerging states in India With the industrial and educational sectors being taken care of in the state, the real-estate sector can as well as expect a share in the pie. The state is expected to embark on a growth trajectory with landmark projects such as the Gujarat International Financial Tec-city, avers BV Nirmala, a real-estate analyst.

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