Gift City News Engaging and Absolutely Luxurious apartments

Gujarat International Finance Tec-City, or GIFT about a 40-minute drive from Ahmedabad, the historic commercial hub here the if-you-build-it-they-will-come idea was to create a magnet for banks, securities firms and information-technology companies akin to Canary Wharf in London or La Defense outside Paris. Gift City Latest Update Construction work has moved slowly and few private enterprises have signed up. Of the two office towers, the first is about 50% occupied and the second one is empty. Real-estate Bill the land acquisition disputes in NOIDA and Greater NOIDA are yet to subside, confirming the need for establishing a real-estate regulator. Specialized regulation of the sector would boost planned development and both domestic and foreign investment to meet the demand for housing the much-awaited Real-estate Regulation and Development Bill, 20131, covers a wide range of aspects viz.

Obligations of promoter’s vis-à-vis project disclosures, execution, setting up of regulatory mechanism, dispute resolution mechanism between promoters and allotters and allotter’s inter-se. With definitions of terms such as 'carpet area common areas etc, the Bill seeks to standardize finest practices in construction sector. Gujarat is devising affordable housing policies by encouraging private developers to undertake affordable housing projects aimed primarily for the urban poor. The entry of private sector can help tackle the burgeoning issue of housing shortage and fiscal constraints. Earlier this year, then Union minister for Housing and Urban poverty alleviation Mr. Ajay Maken had assured that affordable housing may soon be granted the much-desired 'infrastructure' status and an Urban Housing Fund would be set up to facilitate financing. These innovative financial schemes and legislative reforms promise to change the landscape of realty. Gift City News Government will consult all stake holders, including developers, while constituting the state real-estate regulatory authority RERA, Chief Minister Anandiben Patel said today. According to the Real-estate Regulation and Development Bill, 2015, approved by the Cabinet last week, the states and UTs need to establish the ‘Real-estate Regulatory Authority’ to regulate real-estate transactions the bill is still to be taken up for discussion and approval by Parliament..I knows our real-estate developers have some issues related to Real-estate Regulatory Authority. So our state government will consult all stake holders including developers while constituting the regulatory authority for the Gujarat, Patel said while speaking at the Credai Annual Conclave 2015. Gujarat is traditionally believed in owning a house and even the migrant professionals in the state have the same kind of urge.

Thus despite of vibrant economic activities, Gujarat could never become an attractive rental housing market on the property barometer. The absence of institutional support to the developers for getting into rental housing, archaic rental laws and the low rate of return were among the other major reasons for the property market in this part of the world to not evolve as the major rental market for housing segment. Gujarat real-estate that for the current year it looks good with economic conditions improving, with investment scenario expected to improve and thereby creating jobs. Amit Oberoi, National Director-Valuation & Advisory Services and Research with Colliers International categorically say that there is no market for rental housing in Gujarat. According to him, people prefer to own houses and the government housing board caters to a very small quantum of development. Government prefers to work in PPP Public Private Partnership model, wherein they provide land and at times increased FSI for developer to construct affordable housing.

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