If there is a perfect place to invest your money right now, it has to be India’s first operational smart city – Gift City, Gandhinagar. Gift City is the dream project of our honourable Prime Minister, Shri Narendra Modi. Though the city was conceptualised long back, it has gained momentum in the recent times. The rate of growth of the city is unmatched.
The reasons to invest in Gift City are many:
As stated by Gujarat Chief Secretary Pankaj Kumar, GIFT City was poised to emerge as the one of the most preferred financial hubs in the world in the coming decade. Investments worth Rs 11,000 crore from 140 companies have been committed to GIFT City. Moreover, the average daily turnover on international exchanges within GIFT City have exceeded USD 4 billion. (Source: Indian Express)
Gift City houses India’s first and only IFSC. This is a multi-service SEZ in Gift City. Currently, there are more than 125 licensed financial entities in IFSC. The key institutions permitted to set up an IFSC unit are the Banking sector, Insurance sector, and Capital Markets.
According to GIFT City officials, some 55 lakh square feet residential real estate space is coming up in the campus with an investment of Rs. 2,700 crore over the next five years.
Several global and domestic companies have started operations in GIFT City with more on the cards. This has brought about an increased demand for residential units. In order to meet the same, several renowned builders are entering into the city. These developers are creating designs that are in line with the walk to work concept.
NRIs and foreign investors are being allow low tax rates on investments made in IFSC. Also, a large number of Alternative Investment Funds (AIFs) have found a ground in IFSC.
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