Introduction
Gujarat International Finance Tec-City (GIFT)
is a International Financial Service Centre (IFSC) developed by
Government of Gujarat through a joint venture between its undertaking
Gujarat Urban Development Company Ltd. (GUDCL) and Infrastructure
Leasing & Financial Services Ltd. (IL&FS).
GIFT is an integrated Smart City, which aims to be
developed as a global financial hub. GIFT is being developed to catalyst
India’s largest financial services potential by offering World-class
infrastructure to attract top talent in the country. The integrated
urban development will include:
• Smart business environment with benchmark offices, high rise district with landmark buildings.
• Integrated residential development with a walk-to-work concept
• Social infrastructure such as international exhibition complex, international and domestic educational institutes, state of the art hospitals, training school, 5 star hotels and business club.
• External connectivity and transport provision.
• Multi-level car parks will be available to buy or lease.
• Provision of latest technology for global connectivity such as Wi-Fi/ Wi-max, broadband FTTP and shared IT services.
• An International Data Centre is planned; which will provide opportunity to buy or lease a dedicated data centre space.
• Smart infrastructure with uninterrupted and highly reliable power supply, next generation water and waste management and district cooling.
• Retail & entertainment hubs
Projects Undertaken by Masters
Masters is currently involved in two major developments within GIFT for providing project management services firstly a commercial tower by DSCCSL and an affordable housing development by Janaadhar.
A brief outline of each of these projects and their current status is provided below:
1. Commercial Tower for Dalal Street Commercial Co-operative Society Limited
The DSCCSL which is a cooperative body formed by brokers of the Bombay Stock Exchange has acquired a block for commercial development, within the GIFT City integrated development at Gandhinagar, Gujarat. The salient points of the proposed development are as follows:
| Allowable FSI | :46,500 sq.m |
| No of Owners | :102 |
| Plot No | :53E, Zone 5 |
| Plot Location | :Near World Trade Centre & Central Park |
| Max. Allowable Building Height | :122m |
| Max. Allowable Floorplate | :2,310 sq.m |
| Max. Allowable Basement Footprint | :4,167 sq.m |
The Client’s vision is to create an iconic
‘state-of-the art’ commercial building at GIFT City Gandhinagar, which
will be the most desired address by global financial giants.
The building is expected to house front offices of traders, fund managers and part of their back –of-house operations as they are expected to trade and service multi asset class, traded globally.
The building shall include facilities such as business centre, coffee shop, cafeteria, medical room, crèche, convenient shopping and travel desk.
Current Status
The architectural concept design has been completed by the Project Architects and GIFT authorities has in-principal approved the same.
The Client has agreed on the Design & Build (D&B) form of contracting. Structural, MEP and other design works are expected to be undertaken by the D&B contractor.
The Client is currently finalising the appointment of the D&B Contractor.
2. Affordable Housing & Mixed Use Development for Janaadhar
Janaadhar is developing a mixed use development at GIFT City consisting of affordable residential units, school, market and community healthcare centre.
The overall development involves over 15095 Sq.m of gross construction area divided in to the following key areas:
• School Area – 1394 Sq.m
• Market, Health & Community Center – 1433 Sq.m
• Residential (90+240 Units of 1BHK) – 12268 Sq.m
Current Status
Works have commenced at site since April 2016, with excavation works for the residential blocks underway.
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