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Ganesh Housing Corporation is embarking on a colossal project to establish a cutting-edge IT Special Economic Zone (SEZ) named "Million Minds Tech City" in Ahmedabad, Gujarat, with a substantial investment of Rs 8,000 crore. This ambitious endeavour is a collaborative effort between Ganesh Housing Corporation, based in Ahmedabad, and the US real estate development and investment firm Tishman Speyer. The sprawling SEZ, spanning 65 acres near Chharodi village along SG Road, aims to transform Ahmedabad into a thriving hub for the IT industry.
The project was officially sealed through a Memorandum of Understanding (MoU) between Ganesh Housing Corporation and the state government. The MoU represents an investment commitment of Rs 5,000 crore and is scheduled to commence in 2026. This substantial undertaking envisions the development of office spaces for IT and ITes companies, complemented by dedicated residential, commercial, and hospitality facilities.
Ganesh Housing Corporation has joined forces with the Singapore-based architecture firm RSP Engineering to execute this ambitious venture. The dedicated SEZ campus will encompass 80 lakh square feet of space allocated for IT and ITes offices, in addition to 53 lakh square feet of residential areas, 5 lakh square feet for neighbourhood malls and other amenities, and 2 lakh square feet designated for hotels and serviced apartments.
The project's magnitude reflects the growing significance of the service sector in India, which contributes 58% of the country's GDP. Notably, in Gujarat, this sector represents only 38% of the GSDP, indicating vast potential for further development.
The total investment of Rs 8,000 crore covers land and construction costs of Rs 7,500 crore, with an additional expenditure of Rs 500 crore and is expected to be completed within a span of seven years. The project is poised to create direct employment opportunities for 1.6 lakh individuals, along with 40,000 indirect jobs. The project aims to attract prominent IT companies to set up offices in the SEZ. Industry giants such as Apple, IBM, SAP, HCL, eInfochips, Oracle, Google, Amazon, Meta, LinkedIn, TCS, Tech Mahindra, and Infosys are among the businesses that will be approached, thereby further enhancing the significance of "Million Minds Tech City" as a hub for IT innovation.
In conclusion, the "Million Minds Tech City" project represents a pivotal step in establishing Ahmedabad as a global IT destination, providing a vast array of opportunities in the sector, and contributing significantly to the economic growth of Gujarat and India as a whole.
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