GIFT - Gujarat International Finance Tec-city

[Apollyon]

Narendra Modi's Rs 78,000 cr hi-tech city GIFT to try new concepts; may shape future

AHMEDABAD: Narendra Modi would not have thought of Gujarat International Finance Tec-City (GIFT) as the test-bed for future city technologies, but his dream project in Gandhinagar may well have this interesting spillover. Work on the proposed Rs 78,000-crore nano city has now started, and the first occupant may move in by March.

By the time the first phase is completed in three-and-a-half years, this special economic zone (SEZ) would have tried out, on a small scale, some contemporary urban design ideas.

GIFT would have a command and control centre to monitor the IT infrastructure and respond quickly during emergencies (a fire anywhere, for example, will trigger an automatic response). The city will use the energy-efficient district cooling system instead of air-conditioning. It will also use an automated waste collection system that sucks away garbage from buildings at high speed. Says GIFT Director Ramakant Jha: "We will now try on a pilot scale many technologies that will be used when the city is developed fully."

District cooling, which uses chilled water to cool buildings, is being tried in a few places such as Toronto, Cornell University and Masdar City in Abu Dhabi. Its proponents say the technology consumes 90% less energy compared with traditional air-conditioning.

In automated vacuum waste collection systems, garbage is sorted out and then sucked away at high speed through underground tubes to a central location, which can be as far as 20 km away. It is being used in cities such as London, Montreal, Stockholm and Barcelona. No Indian city has these technologies yet.

These concepts may be widely used in smart cities of future as they are considered sustainable. District cooling, for example, can be used easily with renewable energy. Automated waste collection can be combined with biomass energy generation systems, so GIFT will burn waste to generate energy. Greenfield cities such as GIFT have an opportunity to test new technologies before they are adopted in existing Indian cities.

TOP-NOTCH GLOBAL FIN CENTRE

GIFT was conceived in 2007 and the idea was developed initially by a set of consultants such as McKinsey and urban development specialist Fairwood Consultants. It is being planned as a top-notch global financial centre to rival London, New York and Hong Kong.

On a more immediate time scale, it is being built to attract companies from Mumbai, Gurgaon and even Bangalore. After the initial flurry of announcements, the project entered a stage of lull due to the global economic meltdown in 2008. With the city being granted permission last November to operate as a multi-services SEZ, the Gujarat government is keen to take it forward quickly.

The stock exchanges of London, Tokyo and Singapore have evinced interest in setting up offices in GIFT, as have many Indian banks.Singapore Co-operation Enterprises, a government agency, has just signed an agreement with GIFT to develop a banking enclave.

"Liberty to transact in foreign currency at the IFSC in GIFT will significantly raise foreign firms' investment and participation in India," says SS Thakur, former chairman of HDFC and former controller of foreign exchange in the Reserve Bank of India. Similar financial centres in Hong Kong, Dubai, China, Malaysia, the UK (London) and the US (New York) contribute 5-60% of GDP of their respective countries. GIFT is expected to create 10 lakh jobs in 10 years.

Fairwood Consultants, which developed the first master plan, had envisaged a 'next-class city'. It proposed 110 buildings with the tallest being 88 stories. "God does not give us land anymore," says Vikas Chopra, senior vice-president of Fairwood, which is no longer associated with the project. Concentrating urban life into a small area was an eminently 21st Century concept as it made many services cost-effective and environment-friendly.

http://economictimes.indiatimes.com/news/economy/infrastructure/narendra-modis-rs-78000-cr-hi-tech-city-gift-to-try-new-concepts-may-shape-future-city-technologies/articleshow/11368455.cms

India never got such a visionary CM who atleast think on that line and dares to implement with systematic approach after expanding job opportunities to people of his state. This is a huge difference between PM, Advani-every other moment he loves to do Rath Yatra and other so called smart Indian beurocrats. ​

:thumb:

 

[Apollyon]

[h=1]Gujarat International Finance Tec-City (GIFT)[/h]

 

[Zebra]

Page2 of 2
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However, GIFT will have to wait a while to go vertical. Currently, it has clearance to build only up to 122 metres since the airport is seven km away. In 6-7 years, the airport will shift to a new location, allowing GIFT to soar high.

GIFT had made changes to the original plan, which had proposed subterranean roads and four levels of underground parking, leaving the surface purely for pedestrians. It had also envisaged a Personal Rapid Transit System similar to the one operational at London's Heathrow airport and one planned for Amritsar. Now, the parking will be on the surface since underground parking and roads are too expensive.

The Personal Mass Rapid Transit System has been dropped as the Metro would come right up to GIFT. However, cars will remain in the periphery as residents and visitors will use district-cooled, moving walkways to get to the city centre. The city is being planned in such a way that future planners do not have to dig for 100 years.

The first phase of GIFT would experiment with new technology concepts to see if they can be replicated on a larger scale. It would involve two 30-storey buildings with around 10,000 people working inside. The investment for infrastructure in this phase would be Rs 1,400 crore, and around Rs 10,000 crore for all the three phases. The city would need a total investment of Rs 78,000 crore.




Narendra Modi's Rs 78,000 cr hi-tech city GIFT to try new concepts; may shape future city technologies - Page2 - The Economic Times

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[Zebra]

Gujarat's GIFT bags World Finance award

18 Aug, 2012, 02.07PM IST,
Himanshu Darji,ET Bureau

AHMEDABD: Gujarat International Finance Tec City (GIFT), the upcoming liberalised financial service centre in the state, was recently adjudged 'Best Industrial Development & Expansion' project by London-based magazine World Finance.

The project was judged on the basis of its infrastructure, scope, size and complexity as well as in terms of its potential for enabling economic growth in the region through the relocation and centralization of India's financial and IT sectors, said a GIFT statement.

GIFT outclassed projects like Moscow International Finance Centre in Russia and Songdo in South Korea.

"The recognition will add value to the project, that is moving ahead with full momentum. We have kept the project on the fast track. The first two towers are on the verge of completion. Tenders for infrastructure facilities are being floated. In many cases, we are on the verge of finalising the developers. The initial occupants will start function by the end of 2012. We are in talks with 10 banks, which are awaiting a go ahead from their headquarters," GIFT director R K Jha told ET.

World Finance belongs to the W N Media Group in London - global multimedia group with a broadcasting division. GIFT project is an upcoming international financial and IT services hub and is promoted by Gujarat government through Gujarat Urban Development Company Limited ( GUDC) and Infrastructure Leasing & Financial Services Limited (IL&FS).

It got the status of International Financial Services Centre ( IFSC) in December last year. It will be a deemed foreign territory enabling banks and financial institutions transact in foreign currencies from within India and a fraction of cost compared to its global peers.

A part of GIFT has also been notified as a Special Economic Zone ( SEZ), facilitating exemptions from central and state taxes.

Gujarat's GIFT bags World Finance award - The Economic Times

 

[VIP]

Sahi time pe mila hai boss.... Delayed the visit a lot now it's the time to visit this place.

 

[VIP]

Double post.Please Delete this.

 

[aragorn]

Sahi time pe mila hai boss.... Delayed the visit a lot now it's the time to visit this place.

i always wanted to visit it... but never got time

do share pics if u visit..

 

[parijataka]

GIFT bags international infrastructure award
TNN | Aug 18, 2012, 05.40AM IST

AHMEDABAD: At a time of economic slowdown, Gujarat International Finance Tec-City clinched the World Finance-WN Media Awards in the category of the best industrial development and expansion. This is GIFT city's first international award. Among those competing with GIFT were Moscow International Finance Centre and Songdo Finance City in South Korea.

A team from WN-Media was in Gandhinagar for an on-site inspection of various sustainable processes that will be part of urban planning in Gift city. The team looked at the environment-friendly sewage disposal, power consumption and intelligent information communication technology ( ICT) architecture that will drive the city. The WN-Media has three categories of awards, World Finance Banking awards, World Finance Legal awards and World Finance Infrastructure Investment awards. Gift won in the third category. GIFT city is the country's first multi-service SEZ.

"The award is an industry benchmark and critical for our marketing team. This is a people's project. Today as the Gift development control authority is in place, investors can avail of single window clearance. We have applied for power distribution licence recently and will get approval any day. Average pricing of power within Gift city would be 20 per cent less than what is available to regular consumers," says Ramakant Jha, director, GIFT City.

Jha also promises that land prices will be lower that that available outside. "This is because the Gujarat government has given us land for free, for the multi-service SEZ and what we charge our investors is just civic infrastructure costs," says Jha. Sources in GIFT claim that the primary focus of the marketing team is to have domestic PSU banks invest in Gift city. "The Gujarat chief secretary has, in an appeal, invited PSU banks to set up offices in Gift multi-service SEZ," adds the official.

 

[Zebra]

Gujarat International Finance Tec-City - Global Financial Hub | GIFT Gujarat

[video]http://giftgujarat.in/gallery/explore-gift.aspx[/video]

 

[Zebra]

Living Bridge:

Signature Bridge:

 

[Zebra]

http://faculty.washington.edu/jbs/itrans/gift-city.pdf

 

[Shaitan]

First towers are coming up.

 

[trackwhack]

The first two towers are ahead of schedule. Overall the project as a whole is also ahead of schedule. I just hope they extend the Sabarmati Riverfront project as a single stretch all the way to Gandhinagar. Just the fact that there is standing water along that stretch will increase the water table and hence the green cover of the area.

 

[ant80]

I have been living in denial so far. I must admit it now. I have a SERIOUS man-crush on Modi!

 

[aragorn]

First towers are coming up.

ha ha ha ha


Motherf**king congis...6/8 months ago they were saying its just PR and nothing else.. the work has not even started...

a tight kick in their nuts. first tower built and will be completed within a year

 

[warriorextreme]

Gujarat's GIFT bags World Finance award - The Economic Times

Gujarat's GIFT bags World Finance award

AHMEDABD: Gujarat International Finance Tec City (GIFT), the upcoming liberalised financial service centre in the state, was recently adjudged 'Best Industrial Development & Expansion' project by London-based magazine World Finance.

The project was judged on the basis of its infrastructure, scope, size and complexity as well as in terms of its potential for enabling economic growth in the region through the relocation and centralization of India's financial and IT sectors, said a GIFT statement.

GIFT outclassed projects like Moscow International Finance Centre in Russia and Songdo in South Korea.

"The recognition will add value to the project, that is moving ahead with full momentum. We have kept the project on the fast track. The first two towers are on the verge of completion. Tenders for infrastructure facilities are being floated. In many cases, we are on the verge of finalising the developers. The initial occupants will start function by the end of 2012. We are in talks with 10 banks, which are awaiting a go ahead from their headquarters," GIFT director R K Jha told ET.

World Finance belongs to the W N Media Group in London - global multimedia group with a broadcasting division. GIFT project is an upcoming international financial and IT services hub and is promoted by Gujarat government through Gujarat Urban Development Company Limited ( GUDC) and Infrastructure Leasing & Financial Services Limited (IL&FS).

It got the status of International Financial Services Centre ( IFSC) in December last year. It will be a deemed foreign territory enabling banks and financial institutions transact in foreign currencies from within India and a fraction of cost compared to its global peers.

A part of GIFT has also been notified as a Special Economic Zone ( SEZ), facilitating exemptions from central and state taxes.

 

[VIP]

I waited for 2 days that Gujju newspapers would report it but nine of them reported this news. What a shame and biased journalism.....

 

[ant80]

I waited for 2 days that Gujju newspapers would report it but nine of them reported this news. What a shame and biased journalism.....

Um... WHAT? What are you talking about? If they reported it, you shouldn't be complaining.

 

[Beer]

First towers are coming up.

Project chalo be hogaya! Waah kya baat hai, asse hi fast development hona chahiye

 

[aragorn]

Project chalo be hogaya! Waah kya baat hai, asse hi fast development hona chahiye

Guj Dhongis are still in denial mode and they prefer to say it is not yet started...