Gujarat International Finance Tec-City

Gujarat International Finance Tec-City or GIFT is a future city in the Indian state of Gujarat. It will come up on convert|500|acre|km2 land and 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 up area of convert|85000000|sqft|m2|abbr=on. The company will 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.

In terms of scale and sheer physical scope, GIFT is being designed to be at or above par with presently acknowledged globally benchmarked financial centres such as Shinjuku Tokyo, Lujiazui Shanghai, La Defense Paris, London Dockyards etc.

Salient Features

Idea

The idea of GIFT was born during the Vibrant Gujarat Summit 2007 and is being planned by East China Architectural Design & Research Institute (ECADI), which is responsible for planning much of Shanghai, and Fairwood Consultants India. Yao Wen Lin, ECADI board chairman, has been quoted as saying that GIFT's design would excel Shanghai, say state government officials.

Concept

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, state-of-the-art 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.

Location

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

Landmarks

1. GIFT Diamond Tower

2. Gateway Towers

Project Phases

First Phase

Second Phase

The second phase's planned period for construction and commencement - 2010-2013.

Third Phase

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

Consultants Engaged in GIFT

1. Design and Architecture - East China Architectural Design & Research Institute (ECADI) and Fairwood Consultants India.

2. ICT Advisory Services - British Telecom

3. Market Demand Assessment - McKinsey & Company

4. Talent Demand Assessment - Hewitt Associates

5. Environmental Assessment - IL&FS Ecosmart Ltd

6. Process Management - IL&FS Infrastructure Development Corporation Ltd

External links

* [http://www.gujintlfintecity.co.in/ Gujarat International Finance Tec-City Official Website]
* [http://www.gujintlfintecity.co.in/download.htm/ GIFT Downloads]