Archive · 9 Jan 2026
Big Tech, Banks Drive GIFT City Office Boom
Big companies like Cognizant and Oracle are renting office spaces in GIFT City, Gujarat.
This has made the rent prices go up by about 10%.
GIFT City is cheaper than places like Mumbai's BKC, which makes it attractive for businesses.
The city is still growing, and developers are focusing on long-term benefits rather than quick profits.
There are also temporary office spaces being used by smaller companies and universities.
The city is planning to become a major business hub with good infrastructure and rules, different from already established places like BKC.
Major corporations leased significant office space in GIFT City, driving rentals up by 10% in 2025.
Cognizant leased over 100,000 sq ft, while Oracle and Federal Bank leased 30,000 sq ft each.
GIFT City's rentals remain significantly lower than Mumbai's BKC, offering cost advantages.
Developers emphasize long-term growth potential, with 50% of the planned 62 million sq ft already allotted.
Temporary office spaces are in demand, with Deakin University leasing space at higher rentals than Grade A offices in Ahmedabad.
- Who
- Major corporations like Cognizant, Oracle, Federal Bank, Tata Electronics, and IndiGo Airlines
- What
- Leasing of prime office space in GIFT City, Gujarat
- When
- During calendar year 2025
- Where
- GIFT City, Gujarat, India
- Why
- To establish a presence in a growing business hub with lower rentals compared to mature markets like Mumbai's BKC
- Major Tenants
- Cognizant, Oracle, Federal Bank, Tata Electronics, IndiGo Airlines
- Space Leased by Cognizant
- 100,000+ sq ft
- Space Leased by Oracle and Federal Bank
- 30,000 sq ft each
- Space Leased by Tata Electronics and InterGlobe Aviation
- 28,000 sq ft and 20,000 sq ft respectively
- Rental Increase in DTA
- 10% to ₹95–116 per sq ft
- Rental in SEZ
- ₹126–137 per sq ft
- Total Planned Built-up Area
- 62 million sq ft
- Allotted Area
- 29.45 million sq ft (50%)