Ahmedabad Municipal Corporation to Auction 22 Commercial Properties to Recover Rs 2.26 Crore in Unpaid Property Taxes
The Ahmedabad Municipal Corporation (AMC) has announced the upcoming auction of 22 commercial properties in the city's western zone to recover a total of Rs 2.26 crore in outstanding property taxes. These properties are located in some of the city’s prime commercial areas, including Navrangpura ne...
Ahmedabad’s Auction Success: A Testament to Real Estate Demand
In a recent auction held by the Ahmedabad Municipal Corporation (AMC), the city showcased its robust real estate market, managing to sell four out of 13 plots with impressive returns that exceeded expectations. Despite the lower number of successful bids, the financial outcomes from the sales speak ...
Supreme Court Clarified No Compound Interest in Real Estate Disputes
In a landmark judgment delivered in April 2023, the Supreme Court of India addressed the intricate issue of awarding compound interest in consumer disputes related to real estate. The ruling in M/s Suneja Towers Private Limited & Anr. v. Anita Merchant emphasizes that consumer forums must meticu...
SRFDCL approach to attract national & international investors
As Ahmedabad continues to evolve as a vibrant urban center, the recent activities of the Sabarmati Riverfront Development Corporation Limited (SRFDCL) mark a significant turning point for the city’s real estate sector. With strategic engagements involving top global real estate players, the SRFDCL...
Gujarat HC Orders Inquiry into Elderly Man’s Wrongful Detention
Ahmedabad, August 21, 2024: In a significant judicial move, the Gujarat High Court has summoned the Ahmedabad District Collector following the wrongful detention of a 65-year-old petitioner under the Land Grabbing Act. The court's intervention comes after the petitioner spent seven days in custody d...
The New Real Estate Tax Rules in India
The recent budget has brought significant changes to how property sales are taxed in India, particularly in cities like Ahmedabad. These changes are causing quite a stir in the real estate market. Let's break down what's different now and how it might affect you if you're planning to sell your prope...
GST Council Exempts RERA Collections from GST
In a landmark decision during its 53rd meeting, the Goods and Services Tax (GST) Council has exempted statutory collections made by the Real Estate Regulatory Authority (RERA) from GST. This exemption, rooted in Entry 4 of Notification No. 12/2017-Central Tax (Rate), holds significant implications f...
Budget 2024: Expectations for Real Estate Growth and Recovery
As India prepares for Budget 2024, expectations and anticipations are running high, particularly in the realm of economic reforms and sector-specific incentives. One of the key focal points is the proposed amendments to the Insolvency and Bankruptcy Code (IBC) of 2016. Lawyers and industry experts a...
A Wake-Up Call for Gujarat Real Estate
In a bold move signalling stringent enforcement of regulatory compliance, the Gujarat Real Estate Regulatory Authority (GujRERA) has taken unprecedented action against approximately 1,000 real estate developers in the state. This crackdown stems from their failure to meet quarter-end compliance (QEC...