Gujarat Set For Major Construction Boom As President Approves Bill For Redevelopment Of 25-Year-Old Apartments

The construction sector in Gujarat has just received a major shot in the arm as President Ram Nath Kovind has given his nod to the state government's Gujarat Ownership Flats (Amendment) Bill 2018, the Business Standard reports.

As per the bill which received President's assent recently, apartments which were constructed 25 years ago or earlier can be redeveloped with the consent of 75 per cent of the owners.

Prior to this, the redevelopment of any group housing society required the consent of all the owners of the society leading to conflicts in many such units across the state.

The President's nod to the bill marks great significance for people's safety and the state of Gujarat as a whole given many apartments in the state had been built more than 25 years ago and require redevelopment because of their old and dilapidated structures.

In this light, the new legislation will add thrust to the activities towards the redevelopment of such apartments, while giving a big boom to the construction and associated infrastructure sector while ensuring safer living structures for the citizens of the state.