GIFT City: Residential Overview

Gujarat International Finance Tec-City is India’s first operational greenfield smart city, developed to position the country on the global financial map. Located between Ahmedabad and Gandhinagar, GIFT is spread across 886-acres of land parcel. GIFT hosts the very first IFSC, International Financial Services Centre (IFSC) that is due for residential, commercial, and institutional use in India. This smart city’s infrastructural miracles include district cooling, automated waste collection, sustainable design via green-certified buildings and integrated mobility. The accessibility is full-proofed by strategically positioning the GIFT city within 20 minutes time-radius from Sardar Vallabhbhai International Airport and direct access to metro corridor via NH48. The city, due to its humungous potential, has earned investments from global banks, fintech companies, IT/ITeS companies and growing population of NRIs.

Overall, the impact of emergence of multi-faceted firms and institutions, GIFT promises a holistic ecosystem catering to all the levels of human needs.

• Key features of GIFT City:

1.International Financial Services Centre (IFSC) offers competitive edge for international transactions in foreign currency

2.Special Economic Zone (SEZ) provides tax benefits and facilitates business growth and both domestic and international investments.

3.Walk-to-work approach is an inspiration from foreign lifestyle that promotes health and environmental benefits. This aligns with the idea of promoting GIFT as a sustainable city and green city.

4.Social Infrastructure is another dynamic to this developing city. Multi-specialty hospitals, domestic and international educational institutions are emerging in the location strengthening the social position of the GIFT City.

5.Digitized Infrastructure is the mantra that the city is relying on. Implementation of technology in operational processes is taking the city at a fast-forward pace.

• Real Estate Overview:

The real estate aspect of the city is developing at a full swing as well. With a fully urbanized and digitized operational facilities and independent regulatory under the IFSC, real estate here is developing for both residential and commercial. 22% of the total 886-acres spread is dedicated to residential development here. With a fully digitized ecosystem and regulatory autonomy under the IFSC, GIFT City real estate is quickly emerging as a prime destination for both residential and commercial investments.

1.Supply Point of View:

There is no such market where an untapped market holding potential like GIFT City would be left status quo. Vary to the situation, a host of developers are clouding GIFT city with exemplary projects. The city stands as a light of innovation, sustainability, and economic growth. The steady support of developers’ influx would only strengthen the planning and infrastructural growth of the city.

Developers like Sobha Limited, IL&FS, Bakeri Group, Sangath Group, Nila Spaces, are few of the leading developers embellishing their names in the city. A few points of distinguishing that developers are cashing on are:

• Variety in development: The idea of developing a new city is the developer can initiate and drive the typology. New structures and concepts can be wedged in to accommodate the dynamic base of population. A mega project, an independent villas society, or an ultra-luxury project, anything can be conceptualized to begin with.
• Influx of migrants: The larger the IT/ITes or corporate base gets, the better population multiplication can be seen. And can people survive without housing? No! Thus comes an abundant scope for developers to get their projects
• Utilizing the elements of the city: The GIFT city by itself is a unique proposition. Their elements like green sustenance, digitized processes, impeccable social infrastructure can be aligned with the concept of the project. Vertical gardening, sustainable electricity and water, digitized security etc. are to name a few.
• Scope of investors: The development spree of the city is grabbing eyeballs over the news. Active investors seeking lucrative returns would be eagling this opportunity of investment in GIFT City. The properties, apartments for sale in GIFT city offer an untapped opportunity for buyers looking at both end use and investment. Rental is a steady source of income since a large migrant population is expected owing to the growing industrial and commercial spaces.
• Time to make a mark: Although Lavasa didn’t click well for success, but GIFT City in the same journey has a better and stable scope of success. Being a developer giving a structural shape to the city adds to positive credentials for the developer. They get the upper hand to positively drive the real estate residential development with their uniqueness and price competitiveness.

2.Demand Point of View:

The development spree of the GIFT city hitting the headlines is gaining momentum and attention of professionals and investors (both domestic and global) seeking futuristic homes aligning with the job opportunities.

The smart infrastructure and integrated planning facilitate high-end housing options in the city. The ongoing trend of owning a house with advanced lifestyle amenities and internally equipped ecosystems, such housing options seem like an attainable future.

Let us look at the scope of residential properties in GIFT City – basis facilities, usage, and return on investments:

• Diversified options: Since the city is being built from scratch, the scope of influx of multiple typologies of residences is huge. These developments include apartments/flats, duplexes, independent houses, and luxury homes catering to different preferences of the coming population. The demand is varied owing to the needs of owning modern living spaces in GIFT City.
• Amenities: Renowned developers emerging in the city are bringing their A-game into play. State-of-the-art amenities with clubhouses, pools, landscaping, multi-purpose halls, fitness centers, etc. The presence of such amenities promotes a quality life for residents – a comfortable space for families.
• Emergence of quality developers: Acknowledged and reputed developers are bringing their top game to the city. Thoughtfully curated designs, high construction quality, and adherence to timelines are being implemented to build a residential synergy in the city. The final aim of the developers is to make their project a landmark of the city.
• Long-term appreciation: The GIFT City is a unique proposition by itself. This positioning clubbed with strategic and progressive development creates an appreciable property value. The prices in the city have seen a 70% growth in last 3 years (i.e. 2022 to 25). This is a living proof of capital appreciation proof of properties in GIFT City. Investors could be and are anticipating a steady growth in property values and thus, their momentum is stable and progressing.
• A cushion for professionals: The city that is intensively going the direction of becoming a hub for professionals would see an influx of respective job goers. Residential developments in the city offer convenient commuting and enhanced work-life balance. The world-class infrastructure with stable power supply, waste disposal, water supply and landscaped greenery enhances the city’s position of being a “sustainable and preferred” place for settlement.
• Scope of rental: With the influx of population, the demand for rental accommodation is increasing. Investors can use this opportunity to capitalize this by offering residential units for stable rental income stream.

The city hauls a good potential for both active and passive homebuyers. The entire journey of development can be witnessed through the eyes of the present generation.