GIFT CITY GUJARAT
A global financial hub, Gujarat International Finance-Tec city (GIFT) is slated to be India’s first smart city with next-class infrastructure. SOBHA has a towering presence in this award-winning locale with a one-of-its-kind residential enclave.
Gift City Flats Gujarat, Luxury Apartments/Flats for Sale in Gandhinagar
GIFT City: The Next Big Thing in Gujarat's Economic Growth
GIFT City (Gujarat International Finance Tec-City) is a smart city and a financial hub located in the state of Gujarat, India. It was launched in 2007 as a joint venture between the Government of Gujarat and Infrastructure Leasing and Financial Services (IL&FS). The aim was to create a world-class financial hub that would provide a conducive environment for global financial services companies to set up their operations in India.
Built on 886 acres, the city is located between Ahmedabad and Gandhinagar. It has a special economic zone (SEZ) and is regulated by the International Financial Services Centre Authority (IFSCA). The development of GIFT City was based on the model of successful financial hubs like Singapore and Dubai. The idea was to create a city that would provide futuristic infrastructure, international connectivity, and a business-friendly environment to attract global financial companies.
GIFT City has been designed as a greenfield project, with focus on sustainable development. It has state-of-the-art infrastructure, including modern office buildings, residential complexes, commercial spaces, and social infrastructure such as hospitals, schools, and recreational facilities.
GIFT City offers a range of business opportunities, including banking, insurance, asset management, and other financial services. It also offers various tax incentives and regulatory benefits to attract businesses. The city has been successful in attracting several global financial services companies such as Standard Chartered, Bank of America, and Deutsche Bank, among others. Overall, GIFT City is a significant step towards positioning India as a global financial services hub and enhancing its competitiveness in the global market.
Overview of Gujarat’s Economic Growth and Development
GIFT City was launched with the aim of creating an ecosystem for international finance and services in India. Since its inception, it has been instrumental in boosting the economic growth and development of Gujarat. Here are some of the ways in which this innovative concept has impacted Gujarat’s economy:
– Employment: The city has created numerous employment opportunities, with over 15,000 employees working across various sectors such as banking, insurance, IT, and engineering (as of 2021).
– Infrastructure: GIFT City has some of the best infrastructure facilities in the country, including world-class office spaces, residential complexes, and recreational facilities. The city is equipped with modern transportation systems and advanced communication networks.
– Investment: With significant investments from both Indian and foreign companies, the city has also become a hub for startups and entrepreneurs who are leveraging the its resources to build innovative solutions.
– Economic Growth: GIFT City has contributed to the overall economic growth of Gujarat, and has facilitated the growth of several industries including banking, finance, and insurance. It has also encouraged the development of new industries such as fintech and cybersecurity.
– International Recognition: The city has put Gujarat on the global map as a leading destination for international finance and services. With international accolades under its belt, it has been recognised as one of the top emerging business hubs in the world.
Overall, GIFT City has had a significant impact on Gujarat’s economic growth and development. It has created a conducive ecosystem for international finance and services, which has helped attract investments, create jobs, and stimulate innovation in the state.
Why GIFT City is the Next Big thing in Gujarat’s Economic Growth
India’s first operational smart city and a hub for international finance and technology is poised to be a game-changer in Gujarat’s economic growth, on account of these factors:
– Strategic Location: GIFT City is strategically located between Ahmedabad and Gandhinagar, which are two of the most important cities in Gujarat. Additionally, it is situated on NH48, the national highway that connects Delhi, Jaipur, Ahmedabad, Surat, Mumbai, Pune, Bengaluru, and Chennai. This location provides easy access to transportation hubs and major highways, making it an ideal location for businesses looking to expand in Gujarat.
– World-Class Infrastructure: The city boasts of futuristic infrastructure, including a state-of-the-art business district, high-speed internet connectivity, 24×7 power supply, and modern transportation facilities. It also has a dedicated underground utility tunnel network, which reduces the need for excavation and minimises disruption to traffic and other infrastructure.
– International Finance Hub: GIFT City is home to India’s first International Financial Services Centre (IFSC), which has been designed to cater to the growing demand for international financial services in India. IFSC offers a range of services, including banking, insurance, and asset management, and provides a platform for companies to tap into global markets.
– Employment Opportunities: GIFT City is expected to generate many employment opportunities in the coming years. The city is already home to several major companies, including TCS, Bank of Baroda, and ICICI Bank, and is expected to attract more businesses in the future.
The Advantages and Benefits of Investing in GIFT City
GIFT City of India is a special economic zone, dedicated to financial and technological services. Potential advantages and benefits of investing here are listed below:
– Strategic Location: GIFT City is in proximity to major cities like Ahmedabad, Gandhinagar, Surat, and Mumbai – making it an attractive destination for businesses looking to expand their operations in India. Its location also provides easy access to major ports and airports, making it an ideal hub for international trade.
– Business-friendly Environment: The city offers world-class infrastructure and facilities that are designed to support the needs of financial and technological services companies. This includes state-of-the-art technology and communication infrastructure, modern office spaces, and a range of amenities such as restaurants, hotels, and entertainment options.
– Tax Incentives: GIFT City offers 10-year corporate tax holiday, exemptions from customs and excise duties, and a single-window clearance system that simplifies the process of setting up a business.
– Skilled Workforce: The region has a large pool of skilled professionals with expertise in finance, technology, and related fields, making it easier for companies to recruit the talent they need.
– Regulatory Environment: GIFT City is subject to a separate regulatory framework that provides greater flexibility and autonomy for businesses. This includes a streamlined approval process for financial products and services, and the ability to operate in multiple jurisdictions without having to coordinate with multiple regulatory bodies.
Investing in GIFT City provides access to favorable business environment, skilled workforce, tax incentives, and streamlined regulatory processes – making it an attractive destination for companies looking to expand their footprint in the country.
The Potential of GIFT City to Attract Domestic and Foreign Investment
Located in Gujarat, GIFT City was created with the aim of promoting the development of India’s financial sector and attracting domestic & foreign investment. The city offers several advantages that make it an attractive investment destination. These include:
– Special Economic Zone: Companies enjoy many tax incentives here, including a 100% income tax exemption for the first five years and a 50% exemption for the next five years. This can make it a more attractive location for businesses looking to set up or expand operations in India.
– Infrastructure: GIFT City has been developed with state-of-the-art infrastructure, including high-speed internet connectivity, reliable power supply, and modern transportation facilities. This can make it easier for businesses to operate efficiently and cost-effectively.
– Skilled Workforce: The city is located near some of India’s top educational institutions, including the Indian Institutes of Management (IIMs) and the Indian Institutes of Technology (IITs). This provides a pool of highly skilled and educated professionals for businesses to draw from.
– Regulatory Environment: GIFT City has a business-friendly environment that is designed to encourage investment and entrepreneurship. The city has a single-window clearance system for approvals and licenses, which can help businesses save time.
– Financial Services Hub: Strong focus on areas such as asset management, insurance, and banking can have a cluster effect, with businesses in related industries locating in the area to take advantage of the specialised services & talent pool available.
Overall, the potential of GIFT City to attract domestic and foreign investment is significant. With attractive tax incentives, modern infrastructure, skilled workforce, business-friendly regulatory environment, and focus on financial services, GIFT City is well-positioned to become a major centre for investment and business activity in India.
The impact of GIFT City on Gujarat’s Real Estate Market
Since its inception, the city has generated a lot of interest from investors and businesses, leading to an increase in demand for real estate in the surrounding areas. One of the primary advantages of GIFT City is its strategic location. It is between Ahmedabad and Gandhinagar, the business & political capitals of Gujarat. Being well-connected to major highways and airports has made it an ideal location for businesses looking to set up operations in Gujarat. As a result, the demand for real estate in the surrounding areas has increased, leading to a rise in property prices.
Another factor driving the demand for real estate in the area is the availability of futuristic infrastructure and amenities. GIFT City is equipped with state-of-the-art facilities such as underground utility tunnels, district cooling system, and advanced security systems. These amenities have made it an attractive location for businesses and residents alike, leading to an increase in real estate demand.
Rapid development has also led to growth of other industries in the area, such as hospitality and retail. This has created job opportunities and boosted the local economy, further driving demand for real estate. GIFT City India has had a positive impact on Gujarat’s real estate market. The development has created a lot of interest among investors and businesses, leading to an explosion in real estate demand in the surrounding areas. As a result, property prices have risen, and the local economy has benefited from the growth of various industries.
Future Prospects of GIFT City
This ambitious project aimed at creating a global financial hub is being built as a smart city, with state-of-the-art infrastructure and technology, and is expected to provide a platform for international businesses to enter the country.
The future prospects of GIFT City are quite promising. Here are some reasons why:
– Strategic Location: The location is one of the most industrialised in India. It is strategically situated between Ahmedabad and Gandhinagar – two of the fastest-growing cities in India.
– Infrastructure: The city has been designed as a greenfield smart city, with state-of-the-art infrastructure – including roads, power, water supply, and communication systems.
– Incentives: GIFT City offers a range of incentives to businesses, including tax benefits and subsidies, making it an attractive destination for investment.
– International Business: The city aims to become a hub for international businesses to set up their operations in India, which will bring in foreign investment and create employment opportunities.
– Financial Services: The city is being developed as a financial hub, with world-class facilities for banking, insurance, and other financial services. This is expected to attract financial institutions from around the world.
Overall, the future prospects of GIFT City are very promising. With its strategic location, state-of-the-art infrastructure, and incentives for businesses, it is likely to become a major hub for international business in India.
Conclusion and Key Takeaways
In conclusion, GIFT City is a remarkable example of India’s ambition to become a global financial hub. This state-of-the-art city boasts modern infrastructure, thriving business environment, and innovative technology, making it the ideal destination for investors and companies looking to establish a presence in India. GIFT City’s unique features, such as its special economic zone status, tax benefits, and regulatory framework, provide a competitive advantage for businesses that want to tap into the Indian market.
Furthermore, GIFT City is not just about business. It offers a high quality of life for its residents, with modern amenities, green spaces, and diverse cultural experience. As India continues to grow as an economic powerhouse, GIFT City is poised to play a significant role in its future. With its strategic location, innovative approach, and forward-thinking vision, GIFT City is well-positioned to become a hub of financial and technological innovation in the years to come. Overall, the city is a testament to India’s limitless potential and its ability to create futuristic infrastructure and institutions that can compete on the global stage.
GIFT CITY FLATS: AN IDEAL PLACE TO INVEST IN GANDHINAGAR, GUJARAT!
Gujarat International Finance Tech-City is India’s first operational greenfield smart city and International Financial Services Centre. Located on the banks of the Sabarmati River, between Ahmedabad and Gandhinagar, GIFT city is the new business destination that offers competitive edge to financial services and technology related activities. Set on 886 acres of land, with a built-up area of over 62 million sq. ft., this integrated development project can accommodate offices, residential apartments, schools, hospitals, hotels, clubs, malls, and numerous activities for recreation.
The vertical city optimises land area consumption for development and is also equipped with the latest technology and best in class amenities. From the latest public transport to automated waste collection and even an efficient cooling system instead of the traditional air conditioning, one can experience modern-day conveniences that technology can deliver. A biomass energy generation system is additionally installed to generate more energy by burning waste.
GIFT CITY – THE NEW ADDRESS FOR BUSINESS HUBS
The Rs 60,000-crore project has been designed to create a new benchmark in the financial services sector. It includes a Special Economic Zone that covers 261 acres of the 886 acres and has even gone on to win the status of an International Finance Services Centre.
A Fin-tech hub is also being set up to cater to the technological requirements of financial institutions. Banks from Singapore, International Monetary Fund, and even the United Nations agencies will also find their addresses in this grand project.
The concept was conceived with a vision to mimic London, New York, and Hong Kong. As of Feb 2021, GIFT City houses over 40 banks and other financial institutions. The region has also seen a rapid rise in infrastructure development along with the IT and ITES industries.
GIFT City project alone is expected to create over ten lakh jobs in the next decade. Over 9,000 employees are expected to work in the 200-odd companies operating out of this business district. The biggest employers are Bank of Baroda, followed by Tata Consultancy Services and Bank of America. Firms like INDIA INX, Oracle and Infibeam have already begun working from here.
All companies operating out of GIFT City will enjoy a 10-year tax holiday on 100% of the profit. Furthermore, there will be no taxation on overseas profit for Foreign Angels, encouraging global venture funds to set up offices. These factors make it an excellent investment opportunity of a lifetime.
SOBHA’S MONUMENTAL PRESENCE IN GIFT CITY
SOBHA Limited has forayed into this fully integrated city with a plan to build 1,000 housing units. This is in line with SOBHA’s focus on developing affordable housing projects in major cities, along with Prime Minister Narendra Modi’s vision to ensure ‘Housing for All’.
With over two decades of experience in the real estate sector, SOBHA has established itself as an icon of quality and trust. The company’s unique backward integration model equips us to independently conceptualize, implement, and complete a project on time. It also includes an interiors division with one of India’s largest woodworking factories, a metal works and glazing factory, and a concrete products factory. The inhouse resources ensure that customers are provided with unmatched quality.
Timely delivery of projects is imperative to us, and hence we ensure that we stick to our commitment. This is one of the primary reasons why SOBHA follows a self-reliant model of backward integration, wherein every aspect of construction is sourced by an inhouse team, thereby reducing the time spent on relying on external vendors for goods.
With a presence in six countries, and a footprint in over 27 cities and 14 states in India alone, SOBHA is the recipient of 170+ awards.
SOBHA has two projects in GIFT City, Gujarat – Avalon and Dream Heights.
SOBHA Avalon is a luxury apartment complex spreading across 5,400 sqm area, near Ahmedabad in Gujarat, where bustling business meets tranquil living. Designed to enable a dynamic lifestyle for the discerning few, these homes provide avenues to keep your body and mind strong and healthy. Situated in GIFT City, the 31-storeyed SOBHA Avalon comes with stupefying views, a plethora of top-class facilities and offers an energetic lifestyle.
A multipurpose hall, well-equipped gymnasium and thoughtfully designed activity/game rooms are all housed in the resplendent premises of SOBHA Avalon. These amenities are guaranteed to bring out the fitness enthusiast in you. All this starting at just about Rs 63 lakh.
SOBHA Dream Heights
At 33 storeys, SOBHA Dream Heights is the tallest residential tower in Gujarat offering world-class quality, robust construction, and modern amenities. Utility tunnels are planned to ensure that residents are not inconvenienced during maintenance work. SOBHA Dream Heights is designed with a state-of-the-art Water Treatment System that guarantees potable water in all taps. With an Automated Waste Collection System in place, residents can conveniently dispose waste through garbage chutes.
Residential apartments start from the fourth floor to provide an elevated lifestyle. Each home is thoughtfully designed with a Vaastu-compliant entry. Bathrooms are fitted with anti-skid tiles and are provided with three layers of waterproofing. All homes are equipped with water sprinklers and smoke detectors in every room.
This Rs. 67 lakh project features 4 levels of parking, reserved for the owners and the general parking for the visitors. The amenities include a pool deck, 3-storey clubhouse, table tennis, activity room and an island plaza – all designed to give residents the best of recreational activities.
GIFT City is designed to be at par with globally benchmarked business districts. With state-of-the-art infrastructure, the business hub houses world-class amenities and offers excellent connectivity. It is changing the economic face of the state and would even put India on the global map as a financial hub.
The Gujarat International Finance Tec-City is designed to foster employee development and attracts professionals from across the country. Being a modern-day Organization, GIFT City caters to the ambitious. Needless to say, investing in GIFT City will guarantee promising returns. The Central Business District (CBD) also features some of the most-reputed schools, hospitals, and malls, making it the most preferred location.
WHY SHOULD YOU INVEST IN GIFT CITY FLATS?
Over 25,000 smart houses/flats are expected to be built in GIFT City ranging from 1, 2, 3 and 4-BHK homes. They will range from 800 sq. ft. to 2,000 sq. ft. in area. These apartments will also be the first-of-its-kind to replace the use of traditional air conditioners with chilled water from the already functional District Cooling system.
With over 200 companies in this vertical city, walking to work is an advantage that most others can only dream about. The Gujarat government has also issued a resolution allowing those not working in GIFT City to buy a property here. This amendment ensures top-of-the-line quality of living – attracting more investors. Since there is a small percentage of residential property in GIFT City, the return on investment is sure to double when the demand goes up.
This business hub is strategically located on the Delhi-Mumbai industrial corridor, and just 20 minutes away from the Ahmadabad International Airport. It further provides easy connectivity to the upcoming metros, reputed schools, hospitals and even malls.