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.
Previously, some developers would submit outdated photographs in quarterly progress reports (QPR) and provide misinformation about project completion to tax authorities to manage their profit tax liability.
The court gave the interim relief upon the builder’s assurance that he would deposit the Rs 1.48 compensation to buyers that RERA had imposed upon his firm for delaying the possessions.
The bench of Chief Justice Sunita Agarwal and Justice Aniruddha Mayee expressed its displeasure during the hearing of a PIL seeking directions for filling up the posts of members which have been vacant for a considerable time.