Gandhinagar: The Gujarat government has withdrawn its plan to expand the Gujarat International Finance-Tec (GIFT) City and has shifted its development rights to the Gandhinagar Urban Development Authority (GUDA). This decision was announced through a notification issued by the Urban Development Department on Tuesday, June 11, 2024.

The Urban Development Department issued notifications in November 2022 and November 2023 to expand Gift City to 996 hectares in five surrounding villages. These notifications were withdrawn due to challenges in land acquisition, including private ownership issues and planning difficulties for major roads and junctions. As a result, the 996 hectares earmarked for expansion will now be developed by GUDA as a regular city area.

The existing 1,000-acre area of GIFT City will continue its development under Gift Urban Development Authority (GIFT UDA). The proposed infrastructure investments in this area are estimated to cost Rs 6,187 crore over the next 15 years, as outlined in the development plan released in December 2023.

Despite this change, the government affirms that plans for the riverfront and entertainment zone within the existing GIFT City area remain unaffected. DeshGujarat