WTC GIFT Tower C: Gujarat RERA Freezes Bank Account After Delay and Fund Misuse

Quick Summary 

• Gujarat RERA has issued a notice to WTC GIFT Tower C in GIFT City, Gandhinagar. It has frozen the project's RERA bank account. 

• The project was due in June 2024. RERA extended it to June 2025. It is still not finished. 

• As of April 2024, only 28% of the construction was done. Out of 312 units, 311 are already booked. 

• RERA found signs of fund misuse. The promoter withdrew more money than the work allowed. SFIO and the Enforcement Directorate are now checking the case. 

• GIFT City Authority has cancelled the promoter's lease. The promoter cannot log in to the RERA portal. New bookings are not allowed too. 

• RERA is now looking at Section 8 of the RERA Act. This rule lets a new party take over a stuck project. 

If you own a unit here, or you plan to buy in GIFT City, this article covers what is confirmed so far. Savitar Realty tracks RERA action across Ahmedabad and Gandhinagar so buyers get the full picture before they invest. 

What Happened at WTC GIFT Tower C 

WTC GIFT Tower C is a commercial project inside GIFT City. WTC Noida Development Company Pvt Ltd built it. Its Gujarat RERA registration number is PR/GJ/GANDHINAGAR/GANDHINAGAR/Others/CAA00787. 

The first deadline was June 2024. RERA gave the promoter one more year, till June 2025. That date has also passed. The tower is still not ready. A report from April 2024 showed only 28% of the work done. 

This delay hits buyers hard. Out of 312 planned units, 311 are already sold. Almost the whole project is booked. Most buyers still have no possession. Many allottees filed complaints with RERA over the missed deadlines. The promoter also stayed silent and never filed a completion report on the RERA portal. 

Why Gujarat RERA Froze the Bank Account 

Every RERA project in Gujarat must use a fixed RERA bank account. Buyer money goes into this account. The promoter can only take money out in line with real work done on site. An architect, an engineer, and a chartered accountant must confirm this work first. 

In this case, RERA's review found early signs that the promoter took out more money than the work allowed. The account rules were not followed. Because of this, two central agencies are now on the case: 

• SFIO (Serious Fraud Investigation Office): looking into the money problem. 

• ED (Enforcement Directorate): officially checking the misused money. 

To stop more money from leaving the project, RERA ordered the bank account frozen. 

What Else RERA and GIFT Authority Have Done 

Along with the account freeze, regulators took a few more steps against the promoter: 

• Lease cancelled. GIFT Authority ended the promoter's lease on the project site. The promoter has no development rights left. 

• New bookings banned. The promoter cannot sell or book any more units. 

• Portal access revoked. The promoter's RERA portal login is cancelled right away. 

Put together, these steps mean the promoter has lost control of the project. RERA is now looking at Section 8 of the RERA Act. This rule lets RERA hand a stuck project to a new party. It could go to a government body, a buyer group, or a fresh developer. RERA is looking at this same route for the nearby WTC Tower B in GIFT City. 

The WTC GIFT City Story So Far 

WTC GIFT Tower C is not a standalone case. It is part of a bigger World Trade Center complex in GIFT City. Work started in 2014-15 with a plan for four towers: A, B, C, and D, all under the same developer group. Towers A and D are complete and running. Towers B and C both ran into delays and buyer complaints for years. GIFT Authority had already cancelled the lease on Tower B earlier. This fresh action on Tower C is the strongest step regulators have taken against this group so far. 

This history is a reminder for anyone who tracks GIFT City real estate. Even a top address in a government-backed city can carry project risk. RERA checks still matter for each tower, one at a time. Read more about GIFT City's high-rise skyline growing in 2026 to see where this project fits. 

What This Means If You Own a Unit in WTC GIFT Tower C 

If you are one of the 311 allottees, here is what to know and do. 

• Your money has some cover on paper. RERA rules exist to stop promoters from moving buyer money elsewhere. The freeze aims to save what is left in the account. 

• Track your RERA case record. Keep your booking agreement, payment receipts, and any messages from the promoter. You will need them if a new party takes over the project under Section 8. 

• Look for a buyer group. In other stuck GIFT City projects, buyers have formed a group to speak to RERA and GIFT Authority together. A group complaint carries more weight than a single one. 

• File or update your complaint on the RERA portal. If you have not logged one yet, do it now. It becomes part of the official record. 

• Do not pay the promoter directly. The account is frozen and the promoter's portal login is gone. Any payment outside the official process is a warning sign. The Enforcement Directorate has told homebuyers to report builders who hide RERA facts or ask for cash. The same rule applies here. 

• Watch for the Section 8 order. If RERA hands the project to a new developer or the buyer group, a public order will appear on the RERA portal. This step will set a real finish date. 

What This Means If You Are Considering Buying in GIFT City 

GIFT City is one of Gujarat's most watched real estate and finance hubs. It has strong government backing and real long-term demand. Still, use this checklist before you book any under-construction unit, here or anywhere else. 

• Check the project's live status on the Gujarat RERA portal (gujrera.gujarat.gov.in). Do not rely on the developer's brochure alone. 

• Look at the construction percentage shown on the portal. Compare it with the promised completion date. 

• Ask for the RERA registration number in writing. Verify it yourself instead of trusting an ad. 

• Check the legal papers the same way you would check BU permission before buying a flat. Clean papers matter as much as the address. 

• Prefer projects that are near completion or ready to move in, if possession of certainty matters more to you than early pricing. 

• If a project shows repeated deadline extensions or open complaints on the RERA portal, treat it as a real warning, not a small delay. 

• Work with a RERA-registered partner.