GIFT project is being implemented by Gujarat International Finance Tec-City Company Ltd. (GIFTCL). GIFTCL has been set up as a Joint Venture (JV) Company between the Government of Gujarat (GoG) represented by Gujarat Urban Development Company Limited (GUDC) and Infrastructure Leasing & Financial Services Limited (IL&FS). The objective is to design, develop, finance, construct, operate and maintain an International Financial and Technology City in the Ahmedabad-Gandhinagar region.
Role of GUDC / GoG
GoG/GUDC will facilitate to obtain necessary permission/registration from the concerned departments of the State/Central Government and would also help to avail incentives under the various schemes announced by State/Central Government including through a State Support Agreement. Recently, Government of Gujarat declared GIFT area as a Notified Area and constituted the Gujarat International Finance Tec-city (GIFT) Urban Development Authority.
The project is spread over 886 acre, designed vertically, minimizing the spread of built up form over the ground. The entire project has been divided into many packages for Real Estate Developers having a built up area of around 62 million sq. ft. at present, 122m height clearance and proposed (Built Up Area) BUA of 92 million sq. ft. GIFT city is designed as a brand new city designed to be a globally benchmarked International Financial and Technology City to serve as the central business hub. Considering the requirement of domestic and international finance services, an area of 261 acres has been earmarked for a Multi-Service SEZ within the total area of 886 acres.
The Project is being developed with the full backing of a proactive and result-oriented State Government to service emerging business requirements in financial services & IT/ITeS sectors. This will be a first-of-its-kind development in the Country in terms of scale, scope and quality of offerings using state of the art physical/social/ IT infrastructure and world class connectivity at affordable price points.