June 13, 2023
The Shilp Group, an Ahmedabad-based real estate developer, has acquired the costliest development rights in GIFT City, a special economic zone (SEZ) in Gujarat, India. The company acquired 5 lakh square feet (500,000 sq ft) of development rights at a price of Rs 1,821 per square foot ($24 per sq ft), setting a new record for the costliest development rights in the city.
The Shilp Group has already announced three projects in GIFT City, and the new project will be it’s fourth. The company has invested Rs 400 crore ($54 million) in the new project, which will span 5 lakh square feet.
GIFT City is emerging as a global financial hub and is positioning itself as a formidable competitor to global financial hubs like Dubai, Hong Kong, and Singapore. Several foreign banks and financial institutions have already established a presence in GIFT City.
The acquisition of the costliest development rights by the Shilp Group is a sign of confidence in the future of GIFT City. It is also a sign that the Shilp Group is bullish on the Indian real estate market.
Investment Opportunities in GIFT City
GIFT City is a promising investment destination for both domestic and foreign investors. The city offers a number of advantages, including:
GIFT City is also home to a number of world-class financial institutions, which provide investors with access to a wide range of investment opportunities.
If you are looking for an investment opportunity in a growing financial hub, then GIFT City is a great option.
Conclusion
The Shilp Group’s acquisition of the costliest development rights in GIFT City is a sign of confidence in the future of the city. It is also a sign that the Shilp Group is bullish on the Indian real estate market. GIFT City is a promising investment destination for both domestic and foreign investors. The city offers a number of advantages, including a favorable tax regime, a skilled workforce, a strategic location, and a strong infrastructure.
