Gujarat govt aims to ramp up economic activity in real estate sector
Real Estate

Gujarat govt aims to ramp up economic activity in real estate sector

While the Gujarat state government has urged the real estate sector to increase economic activity with investments, the sector registered its pending demands in representation to the government.

The significant one is a 50% reduction in stamp duty and registration fees, which denotes a sizable chunk of government income. Representatives of the Gujarat chapter of the Confederation of Real Estate Developers Association of India (CREDAI), and several other associations of realtors, met leading government functionaries recently with their demands.

CREDAI Gujarat president Ajay Patel told the media that real estate developers have run into several issues due to the Covid-19 pandemic. This industry creates a lot of employment and income for the government. They met the leading authorities of the revenue department and registered their grievances.

The government guaranteed them that their problems will be resolved before the Vibrant Gujarat Global Summit (VGGS). While the stamp duty cut and registration fees have been a long-standing demand of the industry, other problems put before the government were a drop in the premium cost for land-use conversion, sops for affordable housing, relaxations in NA restrictions being applied by urban development officials and the like.

Image Source

Also read: Credai-Rajasthan urges govt to lower stamp duty in the next budget

While the Gujarat state government has urged the real estate sector to increase economic activity with investments, the sector registered its pending demands in representation to the government. The significant one is a 50% reduction in stamp duty and registration fees, which denotes a sizable chunk of government income. Representatives of the Gujarat chapter of the Confederation of Real Estate Developers Association of India (CREDAI), and several other associations of realtors, met leading government functionaries recently with their demands. CREDAI Gujarat president Ajay Patel told the media that real estate developers have run into several issues due to the Covid-19 pandemic. This industry creates a lot of employment and income for the government. They met the leading authorities of the revenue department and registered their grievances. The government guaranteed them that their problems will be resolved before the Vibrant Gujarat Global Summit (VGGS). While the stamp duty cut and registration fees have been a long-standing demand of the industry, other problems put before the government were a drop in the premium cost for land-use conversion, sops for affordable housing, relaxations in NA restrictions being applied by urban development officials and the like. Image Source Also read: Credai-Rajasthan urges govt to lower stamp duty in the next budget

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code