Ahmedabad: In a booster shot for the real estate sector, Chief Minister Shri Vijay Rupani announced higher Floor Space Index (FSI) and a host of other measures for real estate sector. The Chief Minister also said that the state government would give special approvals for construction of Iconic Skyscrapers in four large cities of the state.

Shri Rupani made the announcements at the “Growth Ambassador Summit 2019” organized by Gujarat Chapter of Confederation of Real Estate Developers Associations of India (CREDAI) on Monday. Around 3,000 developers from across the state participated in the Summit.

“I have approved the common GDCR for the whole state just this morning. We have also taken other decisions so that maximum number and affordable houses are constructed,” he said.

The Chief Minister announced that FSI of 4 will be allowed in Ahmedabad, Surat, Vadodara, and Rajkot along 45 metre or wider roads. Similarly, FSI of 3.6 will be allowed in projects along 36-44 metre wide roads.

Shekhar Patel, chairman of CREDAI Gujarat, said that the announcements will benefit real estate sector. This announcement will also benefit consumers.

“The announcements are positive. Houses and offices will become cheaper due to the provision for allowing higher FSI. It’s a win-win for everyone,” he said.

The CREDAI Gujarat chairman also welcomed the announcement that common facilities such as Clubhouse, Gymnasium, Play Area, Swimming Pool, etc. will not be considered as a part of the total FSI from now on.

Paresh Gajera, president of CREDAI Gujarat said that the announcements are a continuation of the state government’s positive and proactive approach to support business.

“The announcements will boost the real estate sector of Gujarat,” Gajera said.

Shri Rupani, who was given the Growth Leader Award by CREDAI Gujarat, urged real estate developers to focus on vertical development for optimum utilization of land and to make houses affordable. He cited measures as redevelopment policy and slum-free cities for giving a boost to real estate sector. He also announced that there would not be any deduction from plots measuring up to 2,500 sq mt in non-Town Planning areas.

In another important decision, Chief Minister Shri Vijay Rupani asked developers to work for vertical development in the state.

“We want iconic skyline buildings on the lines of Dubai and Hong Kong to come up in Gujarat. We will give additional FSI for such projects. We will also give special approvals for such iconic structures,” he stressed.

Earlier, Jaxay Shah, Chairman of CREDAI India, lauded the state government for ushering in several reforms in revenue and other sectors.

State Energy minister Shri Saurabh Patel, said that sentiment is very important for growth, and said that real estate developers have played a big role in Ahmedabad being recognized as a Mega City.

In his address, Revenue minister Shri Kaushik Patel said that the government had taken a host of initiatives to simplify revenue laws.

Deputy Chief Minister Shri Nitinbhai Patel said that the Gujarat government is working to achieve Prime Minister Narendra Modi’s dream of ‘Housing for All’.

“We are also working to simplify laws and to further improve Gujarat’s Ease of Doing Business ranking,” he said.

In an earlier session, Shri Mukesh Puri, Additional Chief Secretary of Urban Development department, said that the state government has approved 250 Town Planning schemes in two-and-a-half years.

“We approved 100 TP schemes last year, and are targeting 120 or so this year,” he said.

Shri Puri also said that Gujarat ranks at the top in terms of project approvals under the Pradhan Mantri Awas Yojana (PMAY).

In his address Shri Amarjeet Singh, Chairman of Gujarat Real Estate Regulatory Authority (RERA), said that the real estate sector will have to play a very important role for India to become a $5 trillion economy.

CREDAI Gujarat’s portal for re-dressal of Consumer Grievances was also launched on the occasion.

Fifteen companies were awarded the Growth Ambassador Award by the real estate developers association on the occasion.