Land prices tumble around GIFT City No longer GIFTed

Ambiguity persists over use of 2,300-acre land around GIFT City that was recently transferred to GUDA; authority yet to clarify on zoning in this parcel in its 20-yr development plan

- Kuldeep.Tiwari

Following the Gujarat government's recent decision to denotify and remove 2,300 acres from the GIFT City Urban Development Authority (GIFT City UDA) and hand it over to the Gandhinagar Urban Development Authority (GUDA), the land prices in this region are expected to plummet. The change is likely to result in "no zone change" in the area, a development that real estate experts believe will further devalue the land.

Zoning ambiguity casts shadow

Realty sources suggest that this 2,300-acre land, encompassing five neighbouring villages - Shahpur, Ratanpur, Lavarpur, Pirojpur, and Valad adjacent to the Gujarat International Finance Tec-City's (GIFT City) Central Business District (CBD), will remain designated as institutional and agricultural zones.