Why your next investment should be at GIFT CITY?

About GIFT CITY:

GIFT ( Gujarat International Finance Tec-City) was launched as a joint venture between the state-run Gujarat Urban Development Co. Ltd and Infrastructure Leasing and Financial Services Ltd (IL&FS).The city is planned on 886 acres of land with 62 million sq. ft. of built-up area with 67 per cent commercial (42 million sq. ft), 22 per cent residential (14 million sq. ft) and 11 per cent social space (6 million sq. ft).

Tax incentives in GIFT-IFSC:

Here are the tax benefits for companies falling under IFSC:

• Minimum Alternate Tax (MAT) and Alternate Minimum Tax (AMT) not applicable to companies in IFSC opting for new tax regime.

• Tax holiday for capital gains for aircraft leasing companies, tax exemption for aircraft lease rentals

• No GST on services received by these companies, provided to IFSC SEZ units or offshore clients

• State subsidies such as 100 per cent reimbursement of stamp duty and registration fee, 100 per cent reimbursement of electricity duty and Rs. 1 subsidy on power tariff for five years, 100 per cent reimbursement of employer’s provident fund contribution, and lease rental subsidy for every 50 sq ft per employee

• National/foreign exchanges set up under IFSC have total tax exemption from Security Transaction Tax (STT), Commodity Transaction Tax (CTT), Dividend Distribution Tax (DDT), Long Term Capital Gain (LTCG), Short Term Capital Gain (STCG).

Current & Upcoming Tenants:

With over 200 companies setting shop in GIFT, key occupants in the SEZ area are – Bombay Stock Exchange (BSE) Brokers Forum and the National Stock Exchange (NSE); international banks like YES bank, Federal Bank, State Bank of India, Standard Chartered; and insurance companies like Edelweiss, New India Assurance, and Life Insurance Corporation of India (LIC).

GIFT also has two of the tallest commercial buildings in Gujarat – GIFT One and GIFT Two, other office buildings of the Gujarat Industrial Development Corporation, Prestige Group, and the Hiranandani Group. In the non-IFSC area, key occupants include Tata Consultancy Services (TCS), Oracle, HDFC Bank, Bank of Baroda and the National Insurance Company.

Google & Amazon have also made announcements referring to their operation expansion at GIFT City.

Key Developers:

Top developers building commercial & residential spaces at GIFT City are Shilp, Shivalik, Bakeri, Savvy, Kavyaratna, Shobha, Nakshatra, & many more.