financetom
Business
financetom
/
Business
/
Gujarat govt approves construction of high-rises of over 70 floors
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Gujarat govt approves construction of high-rises of over 70 floors
Aug 18, 2020 6:41 AM

Gujarat Chief Minister Vijay Rupani has approved construction of buildings of 70 floors or more in five major cities of the state, the government said on Tuesday. As per the present rules, the maximum permissible limit for tall structures in the state was 23 floors.

Now, the state government has decided to amend the Common GDCR (general development control regulations) to allow construction of high-rise structures of 70 or more floors in Ahmedabad, Vadodara, Surat, Rajkot and Gandhinagar, an official release said.

New rules regarding tall buildings approved by the government will be applicable to structures which are over 100 metres in height. A special technical committee will be set up to give approval to such projects, the release said.

The plot size to construct a skyscraper having a height between 100 to 150 metres must be 2,500 sqm, and 3,500 sqm if the proposed height is above 150 metres. Apart from preparation of a disaster management plan, a wind tunnel test of the model structure has been made compulsory under the new rules, the release said.

Rupani exuded confidence that the new rules will ensure optimum utilisation of land and eventually help in lowering the prices of houses.

First Published:Aug 18, 2020 3:41 PM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Update: Sea Shares Jump After Q2 Revenue Beat
Update: Sea Shares Jump After Q2 Revenue Beat
Aug 13, 2024
11:22 AM EDT, 08/13/2024 (MT Newswires) -- (Updates with the latest stock price movement in the headline and first paragraph.) Sea (SE) shares rose 11% in recent Tuesday trading after the company's Q2 revenue topped estimates by analysts. Revenue in the three months ended June 30 rose to $3.81 billion from $3.10 billion a year earlier. Analysts polled by Capital...
Update: Tencent Music Entertainment Shares Drop After Q2 Revenue Falls
Update: Tencent Music Entertainment Shares Drop After Q2 Revenue Falls
Aug 13, 2024
11:20 AM EDT, 08/13/2024 (MT Newswires) -- (Updates with latest stock movement in the headline and first paragraph.) Tencent Music Entertainment Group ( TME ) shares dropped nearly 16% in recent Tuesday trading after the company reported lower Q2 revenue. Tencent reported Q2 earnings premarket of 1.07 Chinese renminbi ($0.15) per diluted American depositary share, up from 0.82 renminbi a...
Update: Penumbra Board Authorizes $200 Million Stock-Buyback Program
Update: Penumbra Board Authorizes $200 Million Stock-Buyback Program
Aug 13, 2024
11:21 AM EDT, 08/13/2024 (MT Newswires) -- (Updates with the latest stock movement in the last paragraph.) Penumbra (PEN) said Tuesday its board has authorized a share-repurchase program for up to $200 million of its common stock. The company said that under the authorization that expires July 31, 2025, it entered into an accelerated share-repurchase agreement with JPMorgan Chase's (JPM)...
Diamondback Energy Well-Positioned Operationally, Financially to Close Endeavor Energy Resources Deal, RBC Says
Diamondback Energy Well-Positioned Operationally, Financially to Close Endeavor Energy Resources Deal, RBC Says
Aug 13, 2024
11:27 AM EDT, 08/13/2024 (MT Newswires) -- Diamondback Energy ( FANG ) appears well-positioned operationally and financially to close its pending merger with Endeavor Energy Resources and reach or surpass synergy targets, RBC Capital Markets said in a note Monday. [Diamondback Energy ( FANG )] has demonstrated an operational aptitude that has delivered reliable performance over the past few years,...
Copyright 2023-2026 - www.financetom.com All Rights Reserved