The Gujarat International Finance Tec-City, GIFT City in Gujarat
GIFT is developed as India's first major supertall CBD project that is designed to be the focal point of India's booming financial services market -- in direct competition with Mumbai -- by providing companies with all those things Mumbai is still developing: comprehensive infrastructure, power, verticalized office space, and a well designed, planned and expandable urban form. Its strong proximity and infrastructure connectivity with Mumbai ensures that mutually beneficial development occurs between the two metros.
Spread over an area of 886 acres, GIFT city city project aims at state-of-the-art internal infrastructure encompassing all basic urban infrastructure elements along with an excellent external connectivity by roads, metro rail and Bus Rapid Transport Service (BRTS).
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. The project is expected to create ten lakhs new jobs in ten years. 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.
Boasting 17 high rise commercial buildings -- the tallest being the signature 80-storey, 400m "Diamond Tower" -- as well as an artificial island, integrated mass transit and dedicated expressways, residential townships, and dedicated power supply, the 500 acre GIFT aims to be Global Financial Services hub. The project is being developed by the Gujarat Finance City Development Company Ltd, a 50:50 joint venture between the Gujarat government and Infrastructure Leasing & Financial Services Ltd (IL&FS) as a Public-Private partnership, will employ 400,000 people and house 50,000 residents.
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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. The project is expected to create ten lakhs new jobs in ten years. 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.
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