GIFT City: Gujarat International Finance Tec-City (GIFT) is expanding with planning that ensures long-term sustainability and minimal disruption. According to recent data shared by top officials of GIFT City, a total of 71 buildings have been approved so far, of which 25 are already operational and 37 are under construction. With six more under planning and three in the development permission stages, officials have stated that all these buildings are likely to be ready within the next three to four years. Sanjay Kaul, MD and Group CEO of GIFT City, told the media that development rights for around 29.45 million square feet of built-up area have already been allotted, accounting for nearly 50% of its planned 62 million square feet.

Speaking here, Kaul highlighted that the city’s phased allotment of development rights is carefully aligned with its infrastructure readiness. “We aim to reach 62 million square feet of development rights allotment by 2030,” he said, explaining that phased allocation allows the city to maintain quality standards while expanding responsibly.

Why the phased allocation?

A cornerstone of GIFT City’s forward-thinking design is its Utility Tunnel system, which addresses a common problem in conventional urban development that requires repeated digging of streets for utility installation. Instead of multiple pipelines that require corridors of 35–50 meters to manage utilities, GIFT City uses a dedicated seven-meter-wide tunnel that houses critical infrastructure, including electrical cables and chilled water lines. Sewage, stormwater, and gas are also routed separately through dedicated corridors. Of the city’s planned 16 kilometers of tunnels, 5.5 kilometers have been operational since 2014–2015, with another five kilometers currently under construction. Therefore, development rights in GIFT City are being allotted in a phased and planned manner so upcoming buildings can connect seamlessly to the underground utility tunnels.

What’s up and running in GIFT?

As of September 30, the total number of licensed entities in GIFT has reached 1,034, with over 100 approvals in the last quarter (July–September), the highest ever.

Among these entities, there are 35 banks, including 18 international banks, with total banking assets surpassing $100 billion. The city hosts 303 leased aviation assets, including 134 aircraft, 84 engines, and 28 ships. Two foreign universities are operational, with three more set to start soon.

Additionally, in the capital market, GIFT sees an average monthly exchange turnover of USD 89.67 billion, cumulative debt listings of USD 66.6 billion, and 69,254 active demat accounts.

A total of 194 fund management entities are operating from GIFT City, with investment commitments of USD 26.30 billion and USD 12.27 billion raised.

What does the future hold for GIFT City?

According to Kaul, the administration aims to allot development rights for the entire planned built-up area by 2030. Alongside this, the city is enhancing social infrastructure and transportation facilities.

“We are studying traffic data from various junctions, and the report will be ready by December. E-taxi services for internal transportation are planned, along with two additional metro stations,” he said.

Officials are also ensuring that the social and residential ecosystems develop around the city’s core concept of ‘walk to work.’

Major social facilities coming up in GIFT

As per the GIFT City Master Plan, out of the 62 million square feet of built-up area, 67% is dedicated to commercial use, 22% to residential, and 11% to social infrastructure.

In the commercial category, several buildings have already come up, including the LIC Tower, SBI, GIFT One and Two, the five-star Grand Mercure hotel, and, opposite these, the IFSCA building. Hiranandani Group’s Signature, Shivalik Group’s commercial building, and other major corporate projects by Bakeri and Rajyash have either been completed or are under development.

In the SEZ area, land parcels have already been allotted for residential use to developers such as Savvy, Shivalik, Cybage, Brigade, and several others.

Among the social infrastructure facilities, GIFT City will house the Jamnabai Narsee School, Lilavati Hospital, and the GIFT International Club, which is already operational. Land has also been allotted for a D-Mart.

Kaul emphasized that companies consider multiple factors—including taxation, talent availability, and infrastructure quality—when setting up operations in GIFT City. “Phased development allows us to provide the right infrastructure at the right time, ensuring operational efficiency and a world-class environment for businesses,” he said. DeshGujarat