Ahmedabad's 18-Year-Old SEZ Dream Finally Comes to Life

Ganesh Housing Corporation Limited has officially launched the long-pending development of its IT/ITeS Special Economic Zone (SEZ) project in Ahmedabad, nearly 18 years after acquiring land for the venture, amid growing demand for Global Capability Centres (GCCs) in the post-pandemic business environment.

The company recently inaugurated Phase I of its ₹1,100 crore “IT Park and Integrated Tech City” project in the presence of Union Home Minister Amit Shah and Gujarat Chief Minister Bhupendra Patel. The first phase, branded as “Million Minds Tech City,” will feature 13 lakh square feet of commercial office space and forms part of a larger seven-phase integrated SEZ project with a planned investment of ₹15,000 crore.

Ganesh Housing had acquired the 65-acre land parcel in Tragad in 2006 and secured SEZ approval in 2008. However, the project remained on hold for several years due to subdued demand in the IT sector and the lack of a mature commercial office ecosystem in Ahmedabad at the time.

Commenting on the delay, Managing Director and CEO Shekhar Patel said the company could not move forward earlier because Ahmedabad was not prepared for large-scale IT expansion following the global slowdown in the technology sector.

News by Rahul Yelligetti.