GIFT City Reaches 50% Built-Up Area Allotment; Full Allocation Targeted by 2030

What Happened

Sanjay Kaul, MD and Group CEO of GIFT City, disclosed in November 2025 that development rights for around 29.45 million square feet of built-up area have been allotted, accounting for nearly 50% of the planned 62 million square feet. A total of 71 buildings have been approved; 25 are already operational and 37 are under construction, with six more under planning and three in development permission stages. Officials stated that all these buildings are likely to be ready within the next three to four years.

Why This Matters

The city's phased allotment of development rights is carefully aligned with its infrastructure readiness. GIFT City's Utility Tunnel system addresses urban infrastructure challenges. The city uses a dedicated seven-meter-wide tunnel that houses critical infrastructure, including electrical cables and chilled water lines, with sewage, stormwater, and gas routed separately. Of the city's planned 16 kilometers of tunnels, 5.5 kilometers have been operational since 2014–2015, with another five kilometers currently under construction.

Development rights are being allotted in a phased and planned manner so upcoming buildings can connect seamlessly to the underground utility tunnels.

GIFT City's Current Operational Status

As of September 30, 2025, the total number of licensed entities in GIFT reached 1,034, with over 100 approvals in the last quarter. Among these entities, there are 35 banks, including 18 international banks, with total banking assets surpassing USD 100 billion.

The city hosts 303 leased aviation assets, including 134 aircraft, 84 engines, and 28 ships. GIFT sees an average monthly exchange turnover of USD 89.67 billion, cumulative debt listings of USD 66.6 billion, and 69,254 active demat accounts. A total of 194 fund management entities are operating from GIFT City, with investment commitments of USD 26.30 billion and USD 12.27 billion raised.

Next Steps: Infrastructure and Expansion

The administration aims to allot development rights for the entire planned built-up area by 2030. The city is enhancing social infrastructure and transportation facilities. The administration is studying traffic data from various junctions with the report ready by December, and e-taxi services for internal transportation are planned, along with two additional metro stations.

As per the GIFT City Master Plan, out of the 62 million square feet of built-up area, 67% is dedicated to commercial use, 22% to residential, and 11% to social infrastructure.

Recent Development Activity

In the commercial category, several buildings have already come up, including the LIC Tower, SBI, GIFT One and Two, the five-star Grand Mercure hotel, and the IFSCA building. All these buildings are likely to be ready within the next three to four years, with phased development allowing the city to maintain quality standards while expanding responsibly.