Ahmedabad News: Realtors convert commercial projects into residential

05 Jul 2021 CW Team

Several real estate developers in Ahmedabad have decided to convert commercial real estate projects into residential projects, as commercial projects have taken a hit due to the Covid-19 pandemic.

Around 25 commercial projects in the city have been converted to residential schemes.

In the case of 20 commercial projects in Ahmedabad Municipal Corporation (AMC) areas, revised building plans have been approved. Five more projects in the Ahmedabad Urban Development Authority (AUDA) area have been converted from commercial to residential.

After getting its revised building plan approved, another real estate company, Venus Infrastructure, converted its commercial project behind Rajpath Club in Bodakdev into an upscale residential scheme.

Work from home, high inventory, corporate expansion on hold, territorial restrictions, and fewer footfalls in showrooms and malls due to Covid-19 have stifled demand for retail and office spaces in commercial projects, according to the real estate industry.

AMC officials told the media three commercial projects had their plans revised in 2018-19, bringing the total to seven in 2020 and the number jumped in 2021.

Residential housing is in high demand and the segment has provided cash flow to developers, prompting many to convert their commercial projects under construction to residential projects.

AMC and AUDA officials said commercial projects were in high demand in 2018 and 2019. Currently, about 80% of building plans awaiting approval in both the AMC and the AUDA are for residential projects. In recent years, the percentage has risen to 60%.

Image Source

Also read: Launches subdued, affordable housing hit

Also read: Affordable housing keeping Indian real estate afloat

Products

06 Oct 2025

TOTO India Launches Premium G & L Showers with Sleek Faucet Range

TOTO India has launched its G Shower and L Shower series, alongside an expanded range of GT, LH, and Pull-Out lavatory faucets. The collection blends advanced technology, refined aesthetics, and everyday comfort, staying true to TOTO’s philosophy of creating spaces that are both beautiful and functional. The G Shower series delivers the 3Rs of showering: Relaxing, Refreshing, and Revitalizing. Features include the Calming Shawl spray mode, Warm Spa technology, and multiple overhead and hand-shower options across eight finishes. The L Shower complements this with easy-to-use controls sui..

Hero Future Energies Secures Funding for 120 MW Hybrid Project

Hero Future Energies (HFE), through its SPV Clean Renewable Energy Hybrid Three, has secured Rs 19.08 billion in funding from the State Bank of India (lead) and Canara Bank. The funds will be used to develop and construct HFE’s 120 MW renewable energy hybrid project at Kurnool, Andhra Pradesh. The project, contracted with SJVN, integrates wind, solar, and storage technologies to deliver reliable peak power. With a 21-year repayment period, the funding ensures timely execution and the commencement of commercial operations. The financial closure demonstrates continued lender confidence in..

IOC GPS Renewables Raises Rs 8.36 billion Debt for Compressed Biogas Plants

IOC GPS Renewables Private Limited (IGRPL), a joint venture between IndianOil Corporation and GPS Renewables, has raised Rs 8.36 billion (approx. US$ 95 million) in debt financing from Indian Bank to execute nine Compressed Biogas (CBG) projects across India. The funding is the largest single-bank debt raise in the CBG sector and the first fully non-recourse financing in India for these projects. The plants—four in Haryana, three in Uttar Pradesh, one each in Chhattisgarh and Andhra Pradesh—will each produce 15 tonnes of CBG per day using paddy straw as feedstock. All nin..