In a move that’s sent ripples through Gujarat, the state government’s decision to permit alcohol consumption in Gandhinagar’s Gift City has ignited a surge in demand for the exclusive business district.
The past 48 hours have seen a staggering 107 new club memberships purchased, translating to a massive Rs 7.49 crore inflow for the clubs. With membership currently priced at Rs 7 lakh, this trend hints at a potential price hike in the near future.
But the impact extends beyond club memberships. Land prices in Gift City and its vicinity have also experienced a renewed wave of growth, reportedly spiking by as much as 10%. Inquiries for properties have jumped 20%, further underscoring the newfound allure of the area.
While the official regulations for alcohol consumption are yet to be unveiled (expected within the next two days), the mere prospect has unleashed a wave of optimism. Kiran Patel, president of Gandhinagar CREDAI, emphasizes the need for further policy clarity specifically for Gift City’s expansion plans. He highlights the limitations of the current alcohol concession to the CBD area, urging the government to consider broader guidelines for “wine and dine” facilities in Phase 2. Concerns regarding FSI restrictions and lack of deductions in Phase 2 are also raised, highlighting potential hurdles in attracting builders, farmers, and consumers.
Meanwhile, former Chief Minister Shankarsinh Vaghela has enthusiastically welcomed the government’s move, congratulating them on the “concession” and even predicting a similar policy shift for tourist destinations like the Statue of Unity, Kutch, and Dholera.
Gift City’s sudden boom underscores the potential economic benefits of the alcohol policy. However, careful consideration of regulations and infrastructure development remains crucial to ensuring long-term, sustainable growth for the burgeoning business district. The next two days, with the expected release of official liquor consumption rules, will be crucial in shaping the future trajectory of Gift City.
- Alcohol policy in Gift City triggers surge in club memberships and land prices.
- Official regulations expected within two days, further clarity needed for expansion plans.
- Former Chief Minister welcomes the move, predicts similar policy shift in other tourist destinations.
- Sustainable growth in Gift City hinges on balanced policy and infrastructure development.
Gift City Considers 17 Potential Rules For Alcohol Exemptions. Click Here
