Ahmedabad Property Prices Expected to Increase
Development Charges on the Rise
Getting a property in Ahmedabad will soon cost more. The Ahmedabad Urban Development Authority (Auda) has given the green light to a plan. This plan will raise development charges for new projects in the city.
Here’s What You Need to Know:
- Development charges will go up by 10 to 20 times.
- This rise will impact both homes and businesses.
- The new rates will cover areas under Auda and Ahmedabad Municipal Corporation (AMC).
How This Affects You
Development charges depend on the land area and construction size. These charges are applied when a building plan gets the okay. The hike will increase costs for builders. In turn, buyers will see higher property prices.
The Law Behind the Changes
The Gujarat Town Planning and Urban Development Act of 1976 allows these charges. Urban development authorities can levy these charges. The last update to these charges was over 40 years ago.
What’s Changed Recently
In 2017, the government changed the law to allow higher charges. Auda proposed doubling the development charges in 2018. However, the state government only approved it now.
Official Word
An Auda official stated, “This is the first increase in development charges in over 40 years. The new charges will now go to the state government for final approval.”
