Redevelopment is becoming the source of real estate development in Ahmedabad: Karthik Soni, Swara Group. Loktej Business, Ahmedabad News

Redevelopment has become a new means to bring changes in the skyline of Ahmedabad city and to provide modern facilities to the city residents. The trend of redevelopment of old residential societies started in Ahmedabad is now becoming the new identity of the real estate sector in Ahmedabad.

Redevelopment has emerged as an attractive option for older societies due to the potential for optimum land utilization and higher floor space index (FSI). The additional FSI enables expansion of living space, giving homeowners larger and upgraded homes equipped with a host of amenities including lifts, club houses, gyms, gardens and parking. Swara Group, Ahmedabad’s leading real estate group Karthik Soni, Founder and Chairman, said that the time has come for redevelopment to play a major role in the development of the real estate sector of the city.

Redevelopment provides an opportunity to revitalize old societies by making better use of land and creating modern and sustainable living spaces. Homeowners get the benefit of replacing their existing old houses with new and more spacious houses, upgraded lifestyle and better amenities. Redevelopment also has a major contribution in vertical development by making maximum use of urban land. “Redevelopment is the future and will be the driver of real estate growth in Ahmedabad in the coming years,” Soni said.

In less than five years, Swara Group has achieved significant achievements in the redevelopment of Ahmedabad. The company has completed six projects and is progressing on six projects in a phased manner. At the same time, plans are also being made for six other projects. Swara Group is different from other groups because all the projects of the group are at prime locations including Paldi, Vasna, Parimal, Ambawadi, Navrangpura, Naranpura and Osmanpura. Karthik Soni said that “There is no vacant land left in these areas, but This area is the heart of Ahmedabad and has high financial and social value.

Redevelopment being the only viable option, this is our main objective. In cities like Mumbai, the trend of redevelopment of old societies has been going on for a long time, whereas in Ahmedabad this trend is new. Despite successful efforts to convert old buildings into landmark projects, the figures remain low compared to the city’s true potential. Legal problems, especially those arising due to lack of trust between landlords and real estate developers, are a major hurdle in the way of approval for redevelopment in Ahmedabad. Karthik emphasizes that greater vigilance and transparency in the redevelopment process will not only help in removing bottlenecks, but can also further accelerate Ahmedabad’s unprecedented growth.

The Gujarat government is keen to encourage redevelopment and for this a dedicated redevelopment policy has also been announced by the government.