Gujarat GIFT City is set to become GIFT Global City and its size will triple from existing 1000 acres to 3300 acres. Fresh investments of Rs 2.4 lakh crore are expected to pour into GIFT City and this will strengthen Gujarat position on global financial services map. This is verified by Times of India at https://timesofindia.indiatimes.com/city/ahmedabad/gujarat-gift-to-become-global-city-its-size-to-triple/articleshow/95631708.cms Keywords included are gujarat gift city global city and gift city triple 3300 acres and gift city investment 2.4 lakh crore.
GIFT Urban Development Authority is required to submit a draft development plan for the area over next 12 months. Additional 2300 acres of land will be a combination of state owned land plus privately held land parcels which will be soon notified by state government. GIFTUDA will also oversee development of additional land. Plans to develop schools hospitals recreational and commercial zones on GIFT City campus will be extrapolated to additional area too. A dedicated riverfront along Sabarmati river stretch on campus will also come up.
Why this matters for buyers and investors. GIFT City is Indias first IFSC and operational smart city. Earlier only IFSC units could buy. Now government has given dual use permission to allow non SEZ entities to buy and Gujarat allows first 5000 individuals to own house in GIFT City. With triple size more residential supply will come but demand is also high with 80 percent units sold before completion. For investors plot prices along riverfront and near new expansion will see appreciation. You can explore verified Gujarat properties on Listifyi Gujarat at https://listifyi.com/gujarat
Detailed explanation. What is Global City plan. State government plans to develop expanse as GIFT Global City a leg up from current identity of GIFT Smart City. Ahmedabad Gandhinagar and GIFT City can be developed as Tri City. A huge section of proposed land to be acquired belongs to state and therefore would be transferred under GIFTUDA. Private land will be earmarked for use similar to town planning scheme instead of acquiring it said senior official.
Impact for you. For buyers check if project falls in old 1000 acres or new 3300 acres expansion. Old area has ready infrastructure new area will take time but price lower. For investors early entry in expansion zone near Sabarmati riverfront may give long term growth. For builders GIFTUDA will soon invite draft plan. Check GujRERA registration at https://gujrera.gujarat.gov.in before booking. Keywords gift city expansion and gift city global city plan and gujarat real estate famous news are important.
Conclusion. Triple size to 3300 acres with Rs 2.4 lakh crore investment shows Gujarat government long term bet on GIFT City. For buyers this is window before price rise. For investors this is similar to early GIFT City entry in 2015. All data verified by Times of India GIFT City Global City article.