City Beat: Plots On Sabarmati Riverfront Up For Sale [Video]

City Beat: Plots On Sabarmati Riverfront Up For Sale [Video]

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It's a good news for all the investors across India planning to invest in Ahemdabad. The Sabarmati Riverfront Development Corporation Limited (SRFDCL) has announced that it will go all-India with the sale of development rights on a few plots on the Riverfront. The sale will be announced ahead of the Vibrant Gujarat Summit to be held in January 2017, though the state government is yet to approve the development control regulations here.

Meanwhile, to bring more transparency in the market, developers have urged the Gujarat government to frame rules under the Real Estate (Regulation and Development) Act, as the deadline to formulate the same nears. The deputy chief minister of the state has assured that the rules will be set within the set deadline. 

Eight months after the city was selected to be developed as a smart city, Ahmedabad has received funds worth Rs 194 crore to kick start the project. Of the total funds received, the Ahmedabad Municipal Corporation or AMC plans to turn Rs 100 crore into equity.

In another development, the Gujarat High Court has given a stay order on the transactions on 26 properties owned by Muslim religious trusts across the state. The value of these properties is estimated to be Rs 200 crore. The Gujarat Wakf Board allowed the sale of these properties even after the prohibition in the amended law of 2013.

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