Gujarat International Finance Tec-City

Gujarat International Finance Tec-City

Gujarat International Finance Tech-City or GIFT is an under-construction city in the Indian state of Gujarat. It will be built on 986 acres (3.99 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. It will have a special economic zone (SEZ), international education zone, integrated townships, an entertainment zone, hotels, a convention center, an international techno park, Software Technology Parks of India (STPI) units, shopping malls, stock exchanges and service units.

To develop and implement the Project, Government of Gujarat (GOG) through its undertaking Gujarat Urban Development Company Limited (GUDCOL) and Infrastructure Leasing & Financial Services (IL&FS) have established a Joint Venture Company, "Gujarat International Finance Tec-City Company Limited" (GIFTCL).

GIFTCL proposes to implement GIFT as a globally benchmarked International Finance City with an eventual built on area of 85,000,000 sq ft (7,900,000 m2). The company plans to develop, finance, implement all infrastructure in and around GIFT on a turnkey basis to ensure that all conceivable services in relation to connectivity, communication, technology, security, services for quality of life etc. are established and sustained.

Currently, two commercial towers, each of 29 floors each are under construction. They will be completed in December 2012 and January 2013, respectively, while the work on a third residential tower of 33 floors will start soon.