Gandhinagar: The Gujarat Industrial Development Corporation (GIDC) is considering transferring development rights for the proposed IT hub at Gift City to Gift City authority after the project has been delayed due to the pandemic. However, the final decision will be made by the state government.

The development rights for a 6 lakh sq ft built-up area at Gift City were previously allocated to GIDC at a rate of Rs 850 per sq ft. The project initiated in 2019 in response to a request from GESIA ( Gujarat Electronics and Software Industries Association), was put on hold due to the pandemic. After consulting with Gesia and private IT companies, GIDC decided to resume the project with an estimated cost of Rs 405 crore. The project has received interest from 38 companies, potentially generating 9,000 jobs with an industry investment of around Rs 1,000 crore. The original plan involved constructing a multi-story building to accommodate IT companies and provide shared infrastructure and co-working spaces. GIDC is considering involving the Gift City authority in the project due to its limited experience in vertical development. The state government is currently discussing the matter, and a decision is expected soon. DeshGujarat