Ahmedabad, Oct 26 (KNN) Gujarat will soon become home to an IT Special Economic Zone (SEZ), which will be set up near Chharodi village along SG Road in Ahmedabad.

The IT SEZ is being set up by Ahmedabad-based developer, Ganesh Housing Corporation, in collaboration with US real estate development and investment firm Tishman Speyer. It will be set up at the cost of Rs 8,000 crore, according to a report in TOI.

The MoU regarding the same was signed between Ganesh Housing Corporation and the state government in the presence of Gujarat CM Bhupendra Patel on Wednesday.

The IT SEZ, which will be called “Million Minds Tech City”, will come up on 65 acres near Chharodi village along SG Road in Ahmedabad. It envisages an investment of Rs 5,000 crore and will commence by 2026.

As per the MoU, the state government will facilitate the necessary permissions and clearances from the concerned departments of the state, according to existing policies.

Apart from office space for IT and ITes companies, the project will have dedicated residential, commercial and hospitality spaces.

The dedicated SEZ campus will have 80 lakh square feet of space for IT and ITes offices in addition to 53 lakh square feet of residential space, 5 lakh square feet of neighbourhood malls and other amenities and 2 lakh square feet of hotels and serviced apartments, the company said in a statement.

“The service sector is the fastest growing sector in India and contributes 58 per cent of the country’s GDP. The sector accounts for just 38 per cent of the GSDP in Gujarat, showing the vast scope for further development here. Looking to make Million Minds Tech City the Silicon Valley of Western India, the SEZ is an opportunity for IT companies who wish to move from saturated metropolitan cities to emerging markets like Ahmedabad. This will put Ahmedabad on the global IT map,” Patel said.

Companies such as Apple, IBM, SAP, HCL, eInfochips, Oracle, Google, Amazon, Meta, LinkedIn, TCS, Tech Mahindra and Infosys will be approached to set up offices in the SEZ.

(KNN Bureau)