What's new

GIFT in Gujarat: Narendra Modi's dream project offers vital learnings for 100 smart cities ambition

Tshering22

ELITE MEMBER
Joined
Jul 19, 2010
Messages
18,431
Reaction score
4
Country
India
Location
Canada
GIFT in Gujarat: Narendra Modi's dream project offers vital learnings for 100 smart cities ambition - The Economic Times

Eighteen kilometers off Ahmedabad airport, two tall buildings rise out of literally nowhere. The twin towers with cobalt blue glass facades are anomalies in the otherwise brown, dusty landscape. At 122 metres and 28 floors high, the towers are the tallest in Gujarat. But height isn't really their claim to fame. The towers are the first buildings to go up in Narendra Modi's dream project: the Gujarat International Financial Tec (GIFT) City.

GIFT City, in all likelihood, will be India's first 'smart city' to be built from scratch. At GIFT City, the action is happening on the ground and under it. An army of workers is sweating in the sweltering sun, pounding roads and erecting buildings for a school, a fire station and a cooling plant. Workmen are also burrowing underground, digging what will eventually be a 12-km long maze of utility tunnels, through which everything from power cables to fibre optic cables to water pipelines will be routed.

When GIFT City's cooling towers will become operational, buildings won't use air-conditioning but district cooling technology, a far more energy-efficient process that circulates chilled water through buildings to cool them. Solid waste will be sucked out from homes and offices at 90 km/hr using pipelines leading directly to a waste processing plant.

When fully functional, GIFT City will have a command centre with information and communication technology (ICT) infrastructure spread across the city which will manage everyday chores like traffic movement.

The closest most Indians have been to experiencing anything like this is inside a cinema hall, for the price of the latest Hollywood sci-fi flick. But, that may change.

A Hundred Cities

In its election manifesto, the BJP had promised to build 100 hi-tech cities. The NDA government seems to be keen to fulfil that promise. "You cannot build cities overnight.

It takes 20-30 years to build a new city. Instead of just making new cities, our idea is to make our existing cities smart," Union minister for housing and urban development Venkaiah Naidu told ET a couple of days ago.

"There will be a mix. One, to convert an old city into a smart one. Two, to build new cities wherever possible," said Naidu.

For instance, seven new smart cities are being developed from scratch along the proposed Delhi-Mumbai Industrial Corridor (DMIC).

"We expect the first phase [40-50 sq km] of three smart cities — Dholera [Gujarat], Shendra-Bidkin [Maharashtra] and Global City [Haryana] — to be delivered by 2019," says Amitabh Kant, secretary, department of industrial policy and promotion (DIPP).
 
Gujarat International finance Tec-city (GIFT) |Gift City Gandhinagar | Gift City Gujarat | A Global Finance Hub

this looks awesome ....

GIFT_city_2.jpg



GIFT_city_3.jpg




Greenery coming up nicely on roads entering GIFT

7y8x.jpg


ct3e9.jpg




8tiy.png
 
Last edited:
Modi's GIFT City achieves Phase I financial closure for Rs 1,157 cr | Business Line

Within a week of Narendra Modi taking oath as the Prime Minister, his mega-dream project, Gujarat International Finance Tec-City (GIFT City), on Tuesday, announced having achieved financial closure for its Phase I infrastructure development.

Being developed as India’s only International Financial Services Centre (IFSC), GIFT City has been conceptualised as a global financial and IT services hub, designed to be at or above par with globally-benchmarked financial centres like those at Shinjuku (Tokyo), Lujiazui (Shanghai), La Defense (Paris) and London Dockyards.

It will also have a specialised university to offer world-class education and training in financial services. For this, the University of Liverpool, UK, is developing curricula in association with some American universities. “We hope to launch this university in 2015-16,” said an official.

The estimated cost of core infrastructure development in Phase I is Rs 1,818 crore. A consortium of banks has agreed to provide us a loan of Rs 1,157 crore. The balance Rs 661 crore would come through equity and our internal accruals over the next three years,” Ramakant Jha, Managing Director and Group CEO, GIFT City Company Ltd, told Business Line on Tuesday.

The total infrastructure development cost would be Rs 9,000 crore over the next 10 years. The project’s power requirements will be 750 megawatt, of which 20 per cent will come from a captive power plant.

The debt requirement for developing Phase I infrastructure has been tied up with a consortium of banks led by Syndicate Bank, and including Bank of India, Bank of Baroda, Punjab & Sindh Bank and Corporation Bank, with whom an agreement was inked on May 20.

These funds will be utilised to develop road network, district cooling system, automated solid waste management system, utility tunnel, smart ICT, master balancing reservoir, waste and sewerage treatment plant and power distribution.

So far, GIFT City has developed two 29-floor towers with 16 lakh square feet area, of which nearly half has been sold.

State Bank of India is set to construct its own 15-floor tower here where it would shift majority of operations of its Ahmedabad zonal office located in a heritage area next to the Bhadra temple. “We have allotted two lakh sq ft to SBI which will also construct 400 residential apartments,” Jha said.

In all, 6.2 crore sq ft area will be constructed in the city in three phases. Of this, 1.06 crore sq ft of space was allotted to banks, financial institutions, hotels, hospitals, schools and real estate developers.

The project, spread over 886 acres, including a 261-acre SEZ on the outskirts of Gandhinagar, is expected to involve investments of Rs 78,000 crore when completed by 2026. Its scale can be imagined by the fact it will have multi-level parking facilities for 60,000 cars and owners would have to walk just 50 metres to get into their cars. The city is likely to create nearly a million direct and indirect jobs.

---------------------------------------------


this is a lot bigger than i originally thought

If this works out, then this might even replace Mumbai as the financial Hub ...
 
High skylines dont mean we are developing,personally I dont like high skylines,they destroy the beauty of cities.It is time for rrual india ,agriculture,clean energy to develop ,enough of funding greedy corporates.
 

Pakistan Affairs Latest Posts

Back
Top Bottom