Guj realtor body heads for a split

The chasm that ran into the high-profile realtor body-Gujarat Institute of Housing and Estate Developers (GIHED) has indeed travelled deeper. So much so that a group of developers and builders have decided to part ways and form a separate organisation.

Likely to be called Ahmedabad Real Estate Developers' Association (AREDA), the body led by NK Patel, former president of Gujarat Institute of Civil Engineers and Architech. It is expected to come into existence by the end of April or beginning of May.

Talking to Business Standard, Patel, who is also the head of city-based realty company Sun Builders, said, "The recent years have seen GIHED diverting from its core and fundamental objective. Instead of its main purpose of giving voice to the problems faced by the realty and construction industry, the apex body became more inclined to organising property shows."

According to him, some members changed the constitution of GIHED through bogus forms without taking majority of the members into confidence.

"As result, the body that was working as a non-profit organisation for 24 years suddenly became a company," said a member who does not want to be named. The situation worsened to the extent that matter pertaining to alteration of the constitution of association landed High Court of Gujarat.

Taking all the factors into consideration, 150 members have agreed join the new association, which will include Bakeri group chairman Anil Bakeri, Dushyant Pandya, NG Group and Anil Bakeri, claims Patel.