Ganesh Housing Corporation will invest approximately 8000 INR-Crore for an IT Special Economic Zone (SEZ) in Gujarat. The Ahmedabad-based developer will collaborate with Tishman Speyer (a US Real Estate Development and Investment Firm) for this project.
The SEZ will be developed on 65 Acres of land parcel and will go by the name “Million Minds Tech City”. The project is located near Chharodi village along SG Road in Ahmedabad. A Memorandum of Understanding (MoU) was signed between Ganesh Housing Corporation and the state government on Wednesday, October 25. The expected deadline for the project is seven years.
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The project will include IT, ITeS offices (construction area of 80 Lakh SqFt), along with dedicated residential (construction area of 53 Lakh SqFt), commercial, and hospitality spaces. Apart from this, 5 Lakh SqFt of area will be reserved for the development of neighborhood malls and other amenities, whereas 2 Lakh SqFt area will be dedicated to hotels and service apartments.
The execution of this project will be done by RSP Engineering (a Singapore-based architectural firm). The total investment encompasses land and construction costs of approximately 7500 INR-Crore and other expenses worth 500 INR-Crore.
Companies like – Apple, IBM, SAP, HCL, Oracle, Google, Amazon, Meta, LinkedIn, TCS, Tech Mahindra, and Infosys – were approached to set up their offices in this project. The state government aims to generate approximately 1.6 Lakh direct and 40,000 indirect jobs through this project.
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