Nila Spaces receives an FSI allotment confirmation from Gujarat International Finance Tec-City Company Limited (GIFT) for Residential Real Estate development at GIFT City, Gandhinagar. The allotment envisages development, construction, and marketing of the residential real estate project, wherein the Company can develop about 5.40 lakh sq ft built-up area (BUA) on a land plot admeasuring 5128 sq mtrs. Recognizing the potential of the State as a Centre for the Financial Services Industry, the state government in Gujarat formulated a megaproject to develop a novel Central Business District (CBD) between Ahmedabad and Gandhinagar viz. the Gujarat International Finance Tec-City (GIFT) on an area of 886 acres with 6.2 crore sq. ft. of BUA which includes office spaces, residential apartments, schools, hospitals, hotels, clubs, retail and various recreational facilities. GIFT City is an emerging global financial and IT services hub, a first of its kind in India, designed to be at par with globally benchmarked CBDs. Additionally, GIFT City will have a metro station connecting it to the Ahmedabad metro network by March 2024. Companies from Financial Services, Technology and all other services sector have started occupying the city and the City is changing the economic face of Gujarat and would keep India on the global map as a Centre of Excellence in the Financial & IT/ITeS Services domain. Deep Vadodaria, the Director, informed that the company is delighted to initiate association with the esteemed and ambitious project of the Gujarat government. With this, the company proved that it is on its continual quest to be the first-mover in the uncharted territories and have joined the elite league of developers entrusted by GIFT to partake in the opportunity to develop the Financial and Technology Gateway of India.