Real Estate Regulatory Authority (RERA) and other compliance will lead to consolidation of real estate sector in Gujarat. This will be a win-win formula for all the stakeholders and even benefiting smaller realtors, said key players on Thursday. “With the changing landscape in reality sector, it is advisable to join hands with players having complementary skills. It is not possible for smaller realtors to comply to regulations on their own,” said Taral Shah, MD of Shivalik Projects while announcing the joint venture ‘S&H Constructions’ between Shivalik Group and Hetu Construction on Thursday. The coming together will create synergies between companies specialized in real estate and construction sectors respectively. Shivalik Group and Hetu Construction have till date successfully executed 300+ projects and boast of a joint experience of 50 years. The two enterprises have constructed more than 10 million square feet space, of which close to seven million square feet is constructed by Shivalik Group. Hetu Construction has carried out projects like old Cricket Stadium at Motera, Infocity in Gandhinagar, and Shalby Hospital at Naroda to name a few. Company MD Hirak Desai said that coming together of the companies will optimize resources and strength of the companies and reduce duplication of efforts. The first project they have undertaken as a part of JV is Shivalik Avenue, a combined residential and commercial project in Bodakdev.

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