Gujarat International Finance Tec-City (GIFT) - A Global
Financial Hub
One of most infrastructure development happening place, It
is Gujarat. I thought of covering this to my blog. As we have been waiting for
the Gift City to be ready. as It is dream project of our Prime Minister Mr. Narendra Modi and all gujaratis.
Gift City - Front view at night, view simillar after completion
Gift Towers
Gujarat International Finance Tec-City or GIFT is an under-construction between Ahmedabad and Gandhinagar in state of Gujarat, India. It will be built on 359 hectares (886 acres) of land. Its main purpose is to provide high quality physical infrastructure (electricity, water, gas, district cooling, roads, telecoms and broadband), so that finance and tech firms can relocate their operations there from Mumbai, Bangalore, Gurgaon etc. where infrastructure is either inadequate or very expensive. It will have a special economic zone (SEZ), international education zone, integrated townships, an entertainment zone, hotels, a convention center, an international techno park, Software Technology Parks of India (STPI) units, shopping malls, stock exchanges and service units.
Gift City - Top View
To develop and implement the Project, Government of Gujarat (GOG) through its undertaking Gujarat Urban Development Company Limited (GUDCOL) and Infrastructure Leasing & Financial Services (IL&FS) have established a Joint Venture Company, "Gujarat International Finance Tec-City Company Limited" (GIFTCL). The estimated cost of the entire project is Rs. 70,000 crore.
GIFTCL proposes to implement GIFT with an eventual built-on area of 7,900,000 m2 (85,000,000 sq ft). The company plans to develop, finance, implement all infrastructure in and around GIFT on a turnkey basis to ensure that all conceivable services in relation to connectivity, communication, technology, security, services for quality of life etc. are established and sustained.
Currently, two 29-floor commercial towers have been completed with development of truck infrastructure now underway for further development.
To develop and implement the Project, Government of Gujarat (GOG) through its undertaking Gujarat Urban Development Company Limited (GUDCOL) and Infrastructure Leasing & Financial Services (IL&FS) have established a Joint Venture Company, "Gujarat International Finance Tec-City Company Limited" (GIFTCL). The estimated cost of the entire project is Rs. 70,000 crore.
GIFTCL proposes to implement GIFT with an eventual built-on area of 7,900,000 m2 (85,000,000 sq ft). The company plans to develop, finance, implement all infrastructure in and around GIFT on a turnkey basis to ensure that all conceivable services in relation to connectivity, communication, technology, security, services for quality of life etc. are established and sustained.
Currently, two 29-floor commercial towers have been completed with development of truck infrastructure now underway for further development.
GIFT was conceived in 2007 and the idea was developed
initially by a set of consultants such as McKinsey and urban development
specialist Fair wood Consultants. It is being planned as a top-notch global
financial centre to rival London, New York and Hong Kong.
The Rs 60,000-crore GIFT City project will house a financial
services-based multi-services SEZ, a Centre for domestic financial sector,
corporate offices, regional offices of companies, a Trade Centre, housing
colonies, social infrastructure and other associated amenities.
Automated waste collection can be combined with biomass
energy generation systems, so GIFT will burn waste to generate energy.
Greenfield cities such as GIFT have an opportunity to test new technologies
before they are adopted in existing Indian cities.
The city will use the energy-efficient district cooling
system instead of air-conditioning. It will also use an automated waste
collection system that sucks away garbage from buildings at high speed.
The scale of GIFT is singularly massive, unparalleled in the world except for a handfull of Dubai megaprojects. GIFT-City will have 312 tall buildings — the tallest being the signature Diamond Tower with 87 floors; another 40 buildings with more than 50 floors and many more with 24 plus floors of height. The entire project is not only fully approved but already completely sold out due to insane demand
As far as I have read it, Tower A and B are ready and have
been operational since 2015.
Oracle India Private limited has acquired two floors and
have started their operations. IT /Computer Engineering students will get
chance to startup their career. This projects have a potential to generate around 12,000 jobs in coming years.
Here are few name of company or group who have accuuired space at City.
Bombay stock Exchange
National Stock Exchange
Life Insturance of India
Multi Commodity Exchange
IFSC at GIFT City begins operations with Yes Bank unit launch
Four more banks - SBI, IDBI Bank, IndusInd Bank and Federal Bank - have received final approval from the RBI and are going to commence operations shortly at GIFT
Gift top officials will organise a meeting of consuls with the state chief secretary to understand their requirement to establish the diplomatic complex on the Gift City premises. The complex will have facilities to house consulates of about 30 countries like the US, the UK, Canada, Australia, South Africa, Singapore, Holland and Japan. These consulates will carry out functions like granting visa and other diplomatic work
Gift City will become first smart city of India. Hope, This project
will be completed soon.
Watch the Videos of Gift CITY, You might have visited it but
in case if you have missed.
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