Gujarat International Finance Tech-City Or GIFT Is an Under-Constructioncity in the Indian

Gujarat International Finance Tech-City or GIFT is an under-constructioncity in the Indian state of Gujarat. It will be built on 673 acres 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 very bad 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 62.0 mil sqft. 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

GIFT is being designed as a hub for the global finance services industry. The Project design has benefited greatly from the inputs of a large number of domestic and international experts who have had an opportunity to determine the key needs of Companies in the financial services space. More particularly, connectivity, infrastructure and transportation access have been integrated into the design of the city. An attractive pricing strategy is also being developed to ensure that it is a fraction of the cost that is ordinarily incurred in other Indian and global finance cities.

Its Target Business Segments are:

Financial Services Operations (Back-office of banking, Insurance and Asset Management Companies)
IT services (Software Application development and maintenance)
Capital Markets & Trading
ITeS
BPO Services
KPO Services

Location

The site is 12km from the Ahmedabad International Airport and 8km 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.

Transportation

GIFT aims at providing transportation network which ensures accessibility, easy & fast mobility and zero road accidental deaths. This would be achieved by:
1. Using a multimodal mix of Transport systems (MRTS/LRTS/BRT, etc.) for both inter region (Ahmedabad, Airport, Gandhinagar and the City) and intra-city.
2. Using walk-to-work concept as part of urban planning with a nodal split of 10:90 between private and public transport.
3. Use of electric Personnel Rapid Transport systems within the City.
In future, City will be linked with Ahmedabad BRTS, operated by Ahmedabad JanMarg Ltd.

First Phase

As of now, proposed GIFT city’s land leveling work is finished. GIFT city has built a temporary housing facility for some 40000+ workers.

Second Phase

The second phase's construction of roads and bases of buildings - 2011-2013.

Third Phase

The third phase's planned period for construction and commencement - 2013-2017.