Realty activity stalled in Gujarat's Bharuch, Ankleshwar

In Gujarat, real estate activity in 96 villages of Bharuch and Ankleshwar has come to a halt since January 2011 when the State Urban Development Ministry notified Bharuch Ankleshwar Urban Development Authority (BAUDA) for future planned growth of the two cities.

Dreams of common people to own a house are stuck as the permission for non agriculture (NA) land use change has been seized from district panchayat. More than 100 real estate developers had started construction in 2010 on the assumption that permission will be granted in due course. In the absence of non-availability of title clearance from the authority, no developer can enter into a legal sale deed or an agreement with the customers.

The failure of developers to furnish title papers has led to banks refusing home loans to thousands of loan seekers. Sources said that there are around 4,000 houses ready for possession in both the cities. A leading builder said that investment worth more than Rs 500 crore is lying dormant. Many small developers are facing a financial crunch.

Officials of Bharuch District Real Estate Developers Association claim to have made several representations to BAUDA and urban development department to expedite the process of zoning and preparation of a development plan.