Gift City Prepossessing condominiums by Top Developer of city

Gift City News the standpoint of the government functioning, at present, the developers have to take more than 40 different types of sanctions before the start of the project, which increases the overall cost of the projects and results in delays. Gift City Latest Update developers wish to have a 'single window' project approval to avoid delays in of the project. Also, inconsistencies in measurement practices have led to ambiguity in property transactions. Stipulation of the carpet area as the only measurement unit, will limit fraudulent practices. Many of the wishes of the business community and the real-estate developers in the state are not new but the visible change lies in the newfound optimism. Some of them who had resigned to the fate of a slow moving economy and slow approvals are suddenly bullish in the market yet again.

If only these early indications are translated into realistic roll out, there is no doubt that Gujarat real-estate market will be among the first in the country to see a revival in the true sense of the term. Cities such as Ahmedabad and Vadodara are now gearing up to match with the more glorified metropolis for the big ticket investment. What makes this confidence even more interesting is the fact that even some of the leading developers from the Gift City News market are launching projects in the state. So, it is not that the higher business confidence index of Gujarat property market is not well founded rather it seems that Gujarat's defining moment has come and the developers are only reflecting that in their positive outlook. A host of real-estate developers, including the such as s of Mumbai's Hiranandani, Bangalore's Brigade Group and Pune's BU Bhandari Landmarks will be pumping in Rs 4500 crore of investments in developing residential and commercial complexes within the Gujarat International Finance Tech-City GIFT project which is being developed as the country's first smart city near Gandhinagar in Gujarat. The real-estate developers will together be investing about Rs 4500 crore in building residential and commercial complexes within GIFT, said RK Jha, director of Gujarat International Finance Tec-City Company Ltd, which is a joint venture between state-run Gujarat Urban Development Company Ltd GUDCL and a private firm Infrastructure Leasing & Financial Services Ltd IL&FS.

This is the biggest influx of real-estate developers to be attracted to the GIFT project so far. The GIFT authorities have already made allotments to Pune-based BU Bandari Landmarks for developing 1.8 lakh square feet of residential space which will initially include 350 apartments. The other residential developer who has been given land for development is Ahmedabad-based Sangath Group who will be initially be developing one lakh square feet of residential structures. We are currently in the final stages of approving the applications of Bangalore's Brigade Group who is planning to develop 12.8 lakh square feet of which only two lakh square feet will be residential. The other application is of Mumbai-based Hiranandani Developers Pvt Ltd who is looking to develop three lakh square feet of commercial space in the SEZ area of the GIFT city, Jha added. Most of the residential schemes that will come up within GIFT will be high-end. We will as well as are constructing 400 units of affordable housing for people who will be working in GIFT. We plan to build these units of about 380 square feet each and lease it out to the workers, the official said.

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