Gujarat s real estate market witnessed a slowdown in new project launches during FY 2023-24, attributed to factors like rising construction costs, incomplete projects, online shopping impact, and investors shifting to stocks.
Q3 housing loan uptake in Ahmedabad is at a five-year high, driven by rising disposable incomes and growing aspirations. Home loan disbursals in the December quarter of FY 2024 stood at Rs 18,967 crore, a 71% increase compared to the same period last year. The merger of HDFC and HDFC Bank has also contributed to the rise in housing finance disbursals. Experts predict sustained demand in the real estate market through 2024.
Gujarat Chief Minister Bhupendra Patel promises to resolve the pending issues of the real estate sector. Developers demand quick government processes and adherence to RERA rules. Credai Ahmedabad announces plans to sell properties based on RERA area and advocates for increased incentives for green buildings.
The Bombay high court recently announced a judgement that said that if stamp duty for a redevelopment agreement is paid then it cannot be charged for individual units.