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Megaproject: Gujarat International Finance Tec-City (GIFT) -- General Development News and Discussions

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#6,541 ·
riteshmehta66 said:
Sharing some progress and observations.........

Master Plan that can be used as Reference for below images (from old Tender)
View attachment 3019956
View attachment 3020017




15-C-ATS Pragya-2
View attachment 3019961


56-C Nakshatra - Digging seems to have started
View attachment 3019964


Block 46 - Kaavyaratna, Nila - Residential Towers
View attachment 3019970

Block 41 - Sobha, Sangaath - Residential
View attachment 3019978


Block 38 - Tapas Udyan where Central Park is planned and Tender is out.
View attachment 3019984 View attachment 3019988


Block 53 - LIC, SBI, BSE
View attachment 3019991

Block 16-A (Marking is now visible) and Samruddhi Sarovar - maybe some prep work is getting done ?



View attachment 3019995
View attachment 3020037


Metro Rail - Pillar work
View attachment 3020058
Click to expand...
I seriously feel Modiji should use his influence to convince big real estate companies like Trump Organisation to build iconic Trump Towers in GIFT, doing so would be good publicity as people would be more confident in investing in GIFT if big real estate giants like Trump Org, Emaar, DLF etc build something in GIFT.

Also I’ve noticed the world trade centre is still not completed and is looking the same as it was 4 years back. What has happened to it?
 
#6,542 ·
m.economictimes.com

Grant Thornton Bharat starts ops from new office in GIFT City

Grant Thornton Bharat, an assurance, advisory and consulting firm has commenced operations from its new office in Gujarat International Finance Tec-City (GIFT City)—Indias first operational smart city and International Financial Services Centre (IFSC) this month. The new office has been set up...
m.economictimes.com m.economictimes.com
 
#6,543 ·
#6,545 ·
timesofindia.indiatimes.com

Gandhinagar: Residential realty picks up pace at GIFT City | Ahmedabad News - Times of India

In the record stamp-duty collection of FY 2021-22, if Gandhinagar has nudged past major cities like Surat and Rajkot which are 10x its size, clocking
timesofindia.indiatimes.com timesofindia.indiatimes.com

www.business-standard.com

ICICI Bank, Gift City to pitch Gift SEZ to Indian, global businesses

GIFT SEZ is the country's first International Financial Services Centre (IFSC) which is being developed as a global financial services hub
www.business-standard.com www.business-standard.com

www.business-standard.com

GIFT City's aircraft leasing business struggles amid confusing rules

Despite generous tax breaks, opaque and confusing rules have companies struggling to get off the ground
www.business-standard.com www.business-standard.com
 
#6,547 ·
ok, so what do you propose we do about it?
 
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#6,548 ·
gandhi.rushabh1992 said:
ok, so what do you propose we do about it?
Click to expand...
Metro will complete by 2024, build residential townships on the outskirts of GIFT City and open an IIT Campus outside GIFT City, atleast humanify it so that investors come to GIFT CITY to invest into more residential, and commercial spaces, else this city by end of this decade will look the same albeit with a few more buildings and traffic. When this city can’t compete with Indian cities then it can’t compete with international IFSCs. Currently government is doing “we’ll build this and that in GIFT city” and that thing never happens, so they should be proactive in bringing in investments. Else peacemeal investments annually is a joke on the ambitions this city has. Most of the startups are registering themselves in Singapore and Dubai not GIFT despite all the incentives, aircraft leasing is another joke where companies are leasing aircrafts from Ireland and not GIFT City, for which GoG needs to advertise and encourage them to register themselves in GIFT.
 
#6,549 · (Edited)
KalashniKaul said:
Metro will complete by 2024, build residential townships on the outskirts of GIFT City and open an IIT Campus outside GIFT City, atleast humanify it so that investors come to GIFT CITY to invest into more residential, and commercial spaces, else this city by end of this decade will look the same albeit with a few more buildings and traffic. When this city can’t compete with Indian cities then it can’t compete with international IFSCs. Currently government is doing “we’ll build this and that in GIFT city” and that thing never happens, so they should be proactive in bringing in investments. Else peacemeal investments annually is a joke on the ambitions this city has. Most of the startups are registering themselves in Singapore and Dubai not GIFT despite all the incentives, aircraft leasing is another joke where companies are leasing aircrafts from Ireland and not GIFT City, for which GoG needs to advertise and encourage them to register themselves in GIFT.
Click to expand...
Lol, you should open Google map and actually see where it's located....You are talking with 100% confidence but lack any short of knowledge...For your information, IIT gandhinagar and PDPU are located closer to GIFT than they are to Gandhinagar...GIFT itself has a college and an international school...They can create an entire city bigger than NewYork around GIFT and it would still progress with the pace that it's currently progressing with....because the progress is tied directly to the land activation, which is directly tied to the time frame of the project....GIFT's progress is not dependent on demand and supply


To educate you further, Land activation means building underground infrastructure and utility tunnels for land parcels...those utility tunnels are more advanced than anything in India, even most first world cities don't have that kind of underground infrastructure, they are also pretty costly and time consuming....they have divided city in 5 different phases which dictates the number of land parcels that gets activated, city is currently in phase 3 and it will last till 2023....phase 4 will last till 2025 and after it, the final phase where they will try to activate all the land parcels and make them available for construction.....so, no matter how much you cry about its pace or give your solutions, the project will progress at this predetermined rate, deal with it....not to forget that the project got delayed by almost 5 years because UPA didn't pass any economic reform that an IFSC needs until Modi himself did it after becoming PM
 
#6,550 ·
Rushivyas said:
Lol, you should open Google map and actually see where it's located....You are talking with 100% confidence but lack any short of knowledge...For your information, IIT gandhinagar and PDPU are located closer to GIFT than they are to Gandhinagar...GIFT itself has a college and an international school...They can create an entire city bigger than NewYork around GIFT and it would still progress with the pace that it's currently progressing with....because the progress is tied directly to the land activation, which is directly tied to the time frame of the project....GIFT's progress is not dependent on demand and supply


To educate you further, Land activation means building underground infrastructure and utility tunnels for land parcels...those utility tunnels are more advanced than anything in India, even most first world cities don't have that kind of underground infrastructure, they are also pretty costly and time consuming....they have divided city in 5 different phases which dictates the number of land parcels that gets activated, city is currently in phase 3 and it will last till 2023....phase 4 will last till 2025 and after it, the final phase where they will try to activate all the land parcels and make them available for construction.....so, no matter how much you cry about its pace or give your solutions, the project will progress at this predetermined rate, deal with it....not to forget that the project got delayed by almost 5 years because UPA didn't pass any economic reform that an IFSC needs until Modi himself did it after becoming PM
Click to expand...
Aapke muh me ghee shakkar, and I guees I should stay away from this thread, won’t derail it if its progressing.
 
#6,552 ·
KalashniKaul said:
Metro will complete by 2024, build residential townships on the outskirts of GIFT City and open an IIT Campus outside GIFT City, atleast humanify it so that investors come to GIFT CITY to invest into more residential, and commercial spaces, else this city by end of this decade will look the same albeit with a few more buildings and traffic. When this city can’t compete with Indian cities then it can’t compete with international IFSCs. Currently government is doing “we’ll build this and that in GIFT city” and that thing never happens, so they should be proactive in bringing in investments. Else peacemeal investments annually is a joke on the ambitions this city has. Most of the startups are registering themselves in Singapore and Dubai not GIFT despite all the incentives, aircraft leasing is another joke where companies are leasing aircrafts from Ireland and not GIFT City, for which GoG needs to advertise and encourage them to register themselves in GIFT.
Click to expand...
Lots of things are happening but progress is slow as our GDP is only about a tenth of what it should be around this time of the century. At this pace, GIFT will take another generation to materialize but as far as this forum is concerned, GIFT is one of the few well planned enclaves in our country, which makes it a very important learning experience to replicate ideas in other parts of the state and country.

Please don't leave the thread, nobody here works directly for GIFT authority! Constructive criticism is always useful.

Rushivyas said:
GIFT's progress is not dependent on demand and supply
Click to expand...
Hopefully that's not true. Government can build a few things here and there, and plant some seeds, but market forces have to pickup the pace at some point, which essentially is demand and supply.

Infrastructure is there. Framework is there. Demand isn't, so is supply.

My take is to give free leases to multinational IT company such as Wipro, TCS, Infy, Accenture, Google, Amazon etc to pick up demand. Same for other technology driven companies. The IIT nearby should also be given a tower within GIFT to setup remote campus and to build active industry partnership.
 
#6,553 ·
Gatimaan said:
Lots of things are happening but progress is slow as our GDP is only about a tenth of what it should be around this time of the century. At this pace, GIFT will take another generation to materialize but as far as this forum is concerned, GIFT is one of the few well planned enclaves in our country, which makes it a very important learning experience to replicate ideas in other parts of the state and country.

Please don't leave the thread, nobody here works directly for GIFT authority! Constructive criticism is always useful.



Hopefully that's not true. Government can build a few things here and there, and plant some seeds, but market forces have to pickup the pace at some point, which essentially is demand and supply.

Infrastructure is there. Framework is there. Demand isn't, so is supply.

My take is to give free leases to multinational IT company such as Wipro, TCS, Infy, Accenture, Google, Amazon etc to pick up demand. Same for other technology driven companies. The IIT nearby should also be given a tower within GIFT to setup remote campus and to build active industry partnership.
Click to expand...
I should make some changes to that statement, GIFT city's progress is not dependent ONLY on demand and supply


You are right, they should give good benefits to those IT companies but they are already doing that and still not getting those Giant companies....why?? Because IT hubs across India have been giving them similar benefits and at that point IT companies would obviously chose already established IT hubs like Hyderabad, Bangalore, NCR, Pune, Chennai etc over a Decade old greenfield project like GIFT
 
#6,554 ·
And the fact that GIFT is attracting fintech industry and not IT/BPO industry.
 
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#6,555 ·
gandhi.rushabh1992 said:
And the fact that GIFT is attracting fintech industry and not IT/BPO industry.
Click to expand...
Wouldn't Fintech include at least consulting? TCS, Infosys, Accenture have extremely good consulting arms. Getting offshore offices of big 5 consulting firms could also be targetted. If that works out, others will surely follow.

In any case, I don't really understand why alcohol policies are not being relaxed at all. There should at least be some relaxation for GIFT City.
 
#6,558 ·
Chota_Shakeel said:
IT firms in GIFT are necessary to create initial demand in the city. Once residential buildings and more offices and facilities open, financial firms will take more interest
Click to expand...
Not necessarily. IT is different code and Financial companies like trading and holding houses are different.
Having more IT companies does not necessarily mean more financial companies flock there.

Yes, regular banks and all will go where there are IT companies but the kind of financial companies GIFT is aiming for is different from your regular banks.

Hence your statement is not so valid.
 
#6,559 ·
RONGHOSH77 said:
Not necessarily. IT is different code and Financial companies like trading and holding houses are different.
Having more IT companies does not necessarily mean more financial companies flock there.

Yes, regular banks and all will go where there are IT companies but the kind of financial companies GIFT is aiming for is different from your regular banks.

Hence your statement is not so valid.
Click to expand...
He said initial demand, with major IT companies rolling in, more will follow them to establish themselves in the IFSC and a proper tech ecosystem will be created.
 
#6,560 ·
SGX due to start ops at GIFT City, Singapore envoy says a ‘ghost town’ after work hours.

Singapore High Commissioner Simon Wong says it is “hard” for Singaporeans to live in GIFT City as it is “quite a ghost town” after working hours. He also says the “bylaws are very tough” and “it is difficult to build a financial centre”.

indianexpress.com

SGX due to start ops at GIFT City, Singapore envoy says a ‘ghost town’ after work hours

Singapore High Commissioner Simon Wong says it is “hard” for Singaporeans to live in GIFT City as it is “quite a ghost town” after working hours. He also says the “bylaws are very tough” and “it is difficult to build a financial centre”.
indianexpress.com indianexpress.com
—-x-—
Which is why the city should be populated and should have a life, initial years would be having slow growth due to lack of momentum but in future the momentum will increase for sure, now it’s in govt’s hands to make sure that “future” is closer than anticipated.
—-x-—
theprint.in

Sitharaman meets CFLI vice chairman, discusses her vision of developing GIFT City

Washington [US], April 20 (ANI): Finance Minister Nirmala Sitharaman met Mary Schapiro, vice chairman of the Climate Finance Leadership Initiative (CFLI) on Tuesday (local time) and spoke about her vision of developing GIFT City, India’s First Operational Smart City. According to the Indian...
theprint.in theprint.in
timesofindia.indiatimes.com

IFSC Gift City: SBI raises $500 million through IFSC Gift City branch | India Business News - Times of India

India Business News: MUMBAI: The country's largest lender State Bank of India (SBI) on Monday said it has raised $500 million (over Rs 3,800 crore) through its IFSC Gift C.
timesofindia.indiatimes.com timesofindia.indiatimes.com
 
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