GIFT City: Is the lifestyle worth the home price?

By Admin

10 Oct, 2025

When Gujarat International Finance Tec-City (GIFT City) was conceived in 2007 by then Chief Minister Narendra Modi as India’s answer to Singapore and Dubai, it promised to be a futuristic global financial hub. Nearly two decades later, that vision is finally materializing   with gleaming towers, global corporates, and an unmistakable air of ambition. But there’s a growing question: does the lifestyle truly match the soaring home prices?

A City of Ambition   and Soaring Real Estate
Since 2020, residential prices in GIFT City have more than doubled, jumping from around ₹4,500 per sq. ft. to over ₹9,500 per sq. ft. This rise far outpaces neighboring Ahmedabad and Gandhinagar, where prices grew to ₹8,000 and ₹4,500 per sq. ft., respectively. It’s a striking leap for a city still finding its feet.

With 25 office towers already buzzing and another 35 under construction, the skyline is rising fast. Nearly a thousand entities are now registered in GIFT IFSC, banking assets have touched $94 billion, and global giants such as HSBC, J.P. Morgan, and Google have made their mark. Universities like Deakin and Wollongong are setting up India’s first foreign campuses, while top-tier hospitals and schools are also on their way.

A City That Sleeps Early
And yet, as evening descends, GIFT City falls unusually silent. Cranes hum, but the streets are quiet   a stark contrast to the vibrant nightlife of Ahmedabad and Gandhinagar. The question arises: with such rapid real estate inflation, does the city’s lifestyle justify the cost?

The Demand–Supply Disconnect
Despite the surge in prices, residential demand has been slow. In the first half of 2025, GIFT City saw record new launches, taking total housing supply to over 3,100 units. Yet, only 820 units were sold, leaving more than 2,000 unsold apartments, as per Propequity data. Developers attribute the price hike to aggressive bidding for development rights rather than end-user demand.

Who’s Buying in GIFT City?
For now, mostly investors. While a few families   around 80 in one Sangath Developers project   have moved in, most buyers are betting on GIFT’s future growth rather than its present comfort. The concept of “walk-to-work” living has not yet translated into reality. Currently, around 28,000 people work in GIFT, but many live outside due to high property costs and limited social life.

Lifestyle Lagging Behind
As GIFT City CEO Sanjay Kaul aptly said, “I’m the Chief Sales Officer.” His mission is clear   attract global corporates and residents alike. But for GIFT to rival Mumbai’s BKC or Bengaluru’s IT corridors, it needs more than offices. The city must pulse with life after hours   cafés, waterfront promenades, cultural events, and community hubs. Encouragingly, developments like a central park, food courts, amphitheatres, and a sports arena are already underway, promising a livelier future.

India’s Most Sustainable Urban Blueprint
One area where GIFT stands unmatched is sustainability. It’s India’s first true greenfield smart city, built with eco-conscious infrastructure   underground utility tunnels, strict recycling norms, district cooling systems, and water reuse mechanisms. For global corporations mindful of their environmental footprint, GIFT is an attractive destination.

As Taral Shah, MD of Shivalik Group, puts it, “It’s the Dubai amongst the two Sharjah(s)   Gandhinagar and Ahmedabad.”

Connectivity: GIFT’s Winning Card
The newly operational Ahmedabad Metro Phase II now connects directly to GIFT, with plans for an internal loop for smoother mobility. Add to that the Mumbai–Ahmedabad bullet train, which will put GIFT just 2.5 hours away from Mumbai, and the city’s accessibility will only improve.

The Verdict: Patience Could Pay Off
Today, GIFT City may feel like a half-built dream   expensive, promising, but not yet pulsating with life. But by 2030, as all 60 towers rise and nearly 100,000 professionals work here, it could become one of India’s most desirable urban hubs.