Ahmedabad, 4 January 2013

Gujarat Chief Minister Shri Narendra Modi may dedicate two towers of Gujarat International Finance Tech-City (GIFT city) near Gandhinagar on 10 January.

While one tower is 29-floor high, the another is 30 storied. Both are the tallest structures in Gujarat so far. As many as 60 offices are already booked in these buildings according to sources. The work on a third residential tower of 33 floors will start soon.

A 10-member empowered committee has been formed under the leadership of Chief Secretary to prepare a separate policy to project GIFT as global financial hub. This committee has been empowered to take decisions on single-window basis. The committee will direct the Gujarat Urban Development Company Limited(GUDCL).

GIFT city is coming up on 272.35 ha land. It will have commercial towers in 28% area, transportation space in 24% area while 34% area has been reserved for gardens and open space, 4% area will be allotted to residential zone while 5% land will be allotted to social infrastructure and another 5% land has been reserved for future provisions.

GIFT will be built on 500 acres (2.0 km2) 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.

The site is 12 km from the Ahmedabad International Airport and 8 km from Gandhinagar and nearby shahpur village . The site abuts a four lane National Highway (NH8) which connects Ahmedabad and Gandhinagar on its eastern side. The Sabarmati river demarcates the western boundary of the Project site.