Modi’s world class GIFT City project failed, private people allowed to houses

Gandhinagar, 30 July 2021
Three companies have decided to build houses on 12.26 lakh square feet of land in Gujarat International Finance Tec City (GIFT). Previously, only the manager of a financial company or entity and its employees were entitled to accommodation in the form of a gift. Since Narendra Modi’s Lift City project failed to attract financial companies, private individuals have now been allowed to build houses instead of offices. In this way Modi’s project is going on since 2007. Although not successful. That’s why BJP’s ally builders will now infiltrate to build houses here.

Sources in GIFT City said that after the implementation of the new rules, developers from Gujarat and various metro cities of the country have started their plans, with Mumbai-based Shobha Developers and Sangat being the leaders. Apart from this, large space has now been acquired from three other firms. A total of 33 lakh sq. ft. space has been allotted to the six developers for housing construction.

Blue Space Limited is the largest of the three developers in GIFT City which will develop an area of ​​5.4 lakh sq ft across 5128 sq mts. Similarly, if the Kavyaratna group is already building a housing project in Gandhinagar’s GIFT City, it has taken over 5 lakh square feet of space in the premises to build the housing.

Ahmedabad-based Sevi Group and ATS Group are jointly developing housing in GIFT City in an area of ​​2.2 lakh square feet. The JV company has already developed a commercial tower in GIFT City and is now planning a residential scheme.