Narendra Modi's dream project "GIFT CITY" will be a burning topic in Budget 2014-15

Q: Hi, Since the day Narendra Modi has taken oath as the Prime Minister of India smart cities have become the burning topic. As per the BJP's declaration, there is a plan to develop 100 smart cities and some of the existing cities will be transformed like GIFT.

Pranab Malakar,

30th June 2014

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Replies (6)

Hi Guys
As per The AIF Fund, the Reliance Capital has rated as CRISIL Fund Management Capability Level - 1 indicating it possess highest standards in fund management capability and investment processes.

Devesh Kumar, Ahmedabad

8th June 2015

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Hey Guys,
As per the recent news Reliance Capital has received 5 laks square feet of space in Gujarat International Finance Tec-City (GIFT) in the International Finance Service Centre (IFSC) Special Economic Zone. It is heard that the company will base it's Global Alternate Investment Funds, its commodity exchange and other international business in this location.

Nikhil Kanetkar, Pune

8th June 2015

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Good Morning Nikhil,
It is also heard that this ts the largest space taken by any private entity in IFSC. The announcement made on 3rd of June 2015 and the allotment was made between Ramakant Jha, MD and Group CEO, GIFT Company Limited and the letter of allotment was handed over to Sam Ghosh, Executive Director, Reliance Capital.

Kishore Pathak, Mumbai

8th June 2015

Right Kishore,
The Board of GIFT Company today approved their request. The allotment is expected to bring in investment of around Rs. 200 crore and will generate employment for around 2500 persons in next 3 years.

Nikhil Kanetkar, Pune

8th June 2015

@Nikhil,
The Reliance Capital has already raised a corpus of Rs. 2000 crore under its Alternate Investment platforms and funds in the last 2 years and they look forward to setting up their various alternate business in this facilities. They have started the process for necessary approvals from the regulators, and expect to launch the proposed business here shortly.

Kishore Pathak, Mumbai

8th June 2015

The Finance Minister has emphasised on measures to encourage development of smart cities. In this wake, he has announced an allocation of Rs. 7,060 crore for building smart cities and creating seven industrial cities. You can click on the link to know more about Budget 2014: Govt to Soon Start Work on Creating Smart Cities

Mithilesh Roy, Bangalore

10th July 2014

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Hi everybody,
Tech Mahindra has signed an MoU with the Dubai Economic Council for providing innovative IT solutions to help achieve the status of 'Smart City'. The MOU was signed by C P Gurnani, CEO, Tech Mahindra and Hani Rashid Al Hamli Secretary General of DEC.

Vikash V, Ahmedabad

7th July 2014

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Hi Vikash,
Do you know that what is the reason of signing MOU with Dubai Economic Council? What will be their key role in this project?

Sanchita Chanda, Ahmedabad

7th July 2014

Well Sanchita,
The MOU will enhanced collaboration between the two parties including exchange of Knowledge, smart solution and expertise and innovation which would be converts to real engines such as the city's connectivity through different utilities connection via smart solution and this solution will boost the service sector as a whole.

Vikash V, Ahmedabad

7th July 2014

@Vikash,
I hope that their joint Centre of Excellence will surely drive in an influx of new proof of concepts and solutions that can be utilised by various government departments in the efforts to shift to Smart City status.

We have seen earlier the Tech Mahindra's expertise across various technology based verticals shift--like helping streamline services in healthcare, education, security, energy, logistics, financial services, hospitality and real estate.

Sanchita Chanda, Ahmedabad

7th July 2014

@Sanchita,
Citizen Benefit Value Analysis will be a key value driver in ensuring the success of this Centre of Excellence; acting as a performance benchmark measured by the Steering Committee of the centre itself said by C P Gurnani, CEO, Tech Mahindra. He further added that Dubai remains a world leader in urban planning and the way it shows us how diversity can co-exist in a city and also as a country is truly amazing.

Vikash V, Ahmedabad

7th July 2014

Hi Saran,
I think you too is very curious about this project. As we all know that India's population is increasing day by day and it is assuming that by 2030, an increase of about 70% is expected. Thus, the only solution to fill out to have self sufficient smart cities that will accomodate more people in less space. It is strategically located on the banks of River Sabarmati just at a distance 12 km from Ahmedabad International Airport.

Uses and benefits:-
It will fulfill the human needs for safe and clean environment, provide employment oppertunity, education, food and shelter, arts, culture etc.
It will also help in maintenance of ecological integrity through reduction in wastes, low energy consumption, protection of diverse and important natural species and careful stewardship.

Aneek Das,

30th June 2014

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Thanks for the detail information,
Me too is a resident of this country and should have the knowledge of current developments. Now a days the whole newspaper as well as the website is full of this current topic.
Do you have any idea that what would be the total infrastructure development cost and how long it would take to complete? What is the total area required for this project and into how many phase? To whom will it be alloted?

Saran,

30th June 2014

Well Saran,
Even i have collect those information from the newspaper and websites that the project "GIFT CITY" spread over 886 acres of land including a 261-acre SEZ on the outskirts of Gandhinagar, is expected to involve investments of Rs 70000 crore when completed by 2026. In all, 6.2 crore sq-ft area will be constructed in the city in 3-phases. Of this, 1.06 crore sq-ft of space was allotted to banks, schools, hotels, hospitals, financial institutions and real estate developers.

Aneek Das,

30th June 2014

Hi everybody,
Can anybody tell me why do we need such cities and what are its uses and benefit? Where is the project strategically located? What are the basic principle behind it?

Saran,

30th June 2014

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