Gujarat International Finance Tec-City or GIFT is an under-construction central business district between Ahmedabad and Gandhinagar in the Indian state of Gujarat. 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.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 (700 billion Rs.).
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. Let us meet here after sometime.