Gujarat plans to hand over stalled WTC GIFT City project to buyers’ body

Ahmedabad: In a first-of-its-kind move in Gujarat, a committee headed by the chief secretary has decided to hand over the stalled World Trade Center (WTC) project in GIFT City to an association of allottees for completion after the original promoter’s arrest in a fraud case. Towers A and D are complete, but work on Towers B and C remains pending.

Allottees of Tower B are forming an association, while those of Tower C have already created one. The handover will proceed if they agree to raise funds and appoint contractors, following which GIFT City may revive the cancelled lease and update registration with the Gujarat Real Estate Regulatory Authority (GujRERA).

The move follows GujRERA’s reference to the state government under Section 8 of the Real Estate Act after project timelines lapsed and registrations were cancelled. Around 90 complaints seeking possession have been filed by buyers. Officials said regulatory bodies and the state government will coordinate to ensure completion, while alternative options will be explored if allottees decline to take charge. DeshGujarat