Realtors eyeing for business on Ahmedabad’s riverfront
Soon the age old delayed riverfront is set to open for the citizens and developers for projects.
Ahmedabad Municipal Corporation (AMC) had set a project on the 3.5 km stretch called Sabarmati Riverfront Development Corp. Ltd (SRFDC), 14 years back.
After much wait, it has been opened again for real estate development, urban infrastructure, public spaces and long awaited slum resettlement.
The price for the project has appreciated from Rs 400 crore in 1996 to Rs 1500 crore now. For this AMC has borrowed Rs 400 crore from Housing and Urban Development Corp. Ltd (Hudco) and remaining will be managed from revenue gained from reclaimed land.
Around 11000 families will be resettled as promised by the state municipal corporation.
Source: Livemint
Ahmedabad, Ahmedabad Municipal Corporation, AMC, Housing and Urban Development Corp. Ltd, HUDCO, Municipal corporation, public spaces, Real estate development, Sabarmati Riverfront Development Corp. Ltd, slum resettlement, SRFDC, urban infrastructure
