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Thursday, April 22, 2021

Those not working in GIFT City can also reside there: Gujarat Govt

Earlier, only those working in GIFT City could occupy residences there

By: Express News Service | Ahmedabad |
March 11, 2021 4:06:13 am
GIFT City The state government has earlier relaxed the ownership condition by which any entity could develop and own residential property in GIFT City.

In a move to encourage more people to reside in GIFT City, the Gujarat government has issued a resolution allowing those not working within GIFT City to reside in the City, stated an official release here on Wednesday.

Earlier, only those working in GIFT City could occupy residences there. The state government has earlier relaxed the ownership condition by which any entity could develop and own residential property in GIFT City. With this relaxation both ownership and occupancy conditions are no longer restrictive and open to all.

Tapan Ray, MD & Group CEO, GIFT City, said, “GIFT City has witnessed a good amount of participation in commercial and social development projects. This amendment will encourage more investments in the residential sector of the city and will help in leveraging the City’s top-of-the-line quality of life.”

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