Patel Neel Sanjaybhai

CM4050

This Directed Research Project explores the impact of the ASR 2024 revision—locally known as Jantri—in Gujarat, which has led to property valuation hikes of up to 665%, particularly affecting Western Ahmedabad. Through case studies of seven real estate projects, the research evaluates financial implications such as increased FSI premiums, stamp duties, and tenure conversion charges. Findings reveal cost escalations ranging from 163% to 379%, with IRR dropping drastically in some areas (e.g., from 71% to -5% in Ognaj), while others like Shilaj remain viable with reduced margins. The study highlights the need for developers and policymakers to re-strategize project planning and investment approaches under the revised land valuation framework.