GIFT City unveils draft development plan for expansion; to engulf 5 villages in vicinity

  • Admin
  • 15/12/2023
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GIFT City unveils draft development plan for expansion; to engulf 5 villages in vicinity

Source: The Hindu Business Line

The GIFT City, which is currently spread over 1,000-odd acres will be expanded to almost 3,430 acres (1,392 hectares) to house over one million people

The Gujarat government on Friday unveiled a draft development plan for the expansion of Gujarat International Finance Tec-City or GIFT City in Gandhinagar which will inflate its present size by three times.

The GIFT City, which is currently spread over 1,000-odd acres — which includes private land — will be expanded to almost 3,430 acres (1,392 hectares) to house over one million people, State government officials told businessline. Approximately 2,441 acres (998 hectares) of additional land belonging to Shahpur, Ratanpur, Lavarpur, Pirojpur and Valad villages of Gandhinagar district — that surround GIFT City — will be developed to expand the limits of GIFT City, officials added.

Previously, GIFT City — a pet project of Prime Minister Narendra Modi — was notified for an area of 1,065 acres and a statutory Development Plan was prepared for the said area in 2011. Part of this area was designated as a Special Economic Zone (SEZ). Of the total 1,065 acres, 741 acres are under GIFT City Company Ltd and the remaining area is private land.

Compared to buildings that can reach up to 120 meters in GIFT City, the extended area will permit buildings that can have only a maximum of eight floors or 25 meters, officials said. “We will permit a total FSI (Floor Space Index) of 2.7 in the proposed expanded area of GIFT City. So buildings not higher than 25 meters will be allowed to be built,” an official added. Of the 2.7 FSI being provided for the expanded 2,441 acres, 1.8 will be the base FSI and 0.9 FSI will be chargeable for real-estate developers.

On Monday, the draft development plan “GIFT Extended Zone” was unveiled by Gujarat Chief Minister Bhupendra Patel for “citizen consultation.”

Listen. Can GIFT City-IFSC help India become a hub for the shipping industry?

With the proposed expansion, GIFT City will now extend up to National Highway-48 in the east, Gandhinagar Bypass Road in the north and PDEU bridge in the south. The Sabarmati River flows on the west of the GIFT City where a 4.5-kilometre long river front is also being planned. Bimal Patel-headed HCP Design, Planning and Management has already been entrusted with the masterplan for the expanded area.

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