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Indian Real Estate News : Ahmedabad
Freeze on realty around Ahmedabad metro rail ends
Source: The Times of India, Ahmedabad Sep 26, 2011
The metro rail corridor will now be lined by high-rises and commercial buildings.

The state urban development department has withdrawn the freeze on all permissions for construction within the 150 metres on either side of the proposed Metro-link Express for Gandhinagar & Ahmedabad (MEGA).

And, there is more. Residents whose properties are in the way of the corridor earmarked for the project will now be paid in terms of comparable FSI as part of the compensation package.

A circular dissolving the earlier no-construction norm along the metro corridor was sent by the UD department to Ahmedabad Municipal Corporation (AMC) recently. "It was in December last year that the state government had imposed a bar," said municipal commissioner Guruprasad Mohapatra. "MEGA may have finally decided on the alignment for metro train and it is in this respect that the circular was issued to us."

The circular, however, comes with a rider - if anytime in the future, the metro company or the state government decides on a fee to be collected from beneficiaries along the metro route, then the beneficiaries themselves may have to pay.

For now, the state government has authorized AMC to give permissions to build.

A senior tax official told TOI, "Beneficiaries will be granted 1.2 to 1.8 FSI according to the prevalent building norms of that zone through which the corridor will pass." If an owner loses 100 square metres to the corridor he or she will be assigned an FSI to compensate that loss, the official said.

A committee headed by chief secretary A K Joti had met on August 9 and had suggested the withdrawal of the restriction. It was in August that the alignment of the metro rail was given the final go ahead. "There were issues with metro approaches to the airport. This too has been resolved," said a senior urban development official.
Tag: ahmedabad metro, ahmedabad real estate
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