WTC Gift City Construction in Full Swing; to be Completed as per Schedule

WTC GIFT City, a leading commercial real estate player in the GIFT City, announced that the construction work at the site is ongoing and will reach to full capacity from July 5, 2023, and the project will be completed well in time. The construction work at Tower C and the faade work at Tower B is underway.

“We are delighted to witness leasing sign-ups happening every week, which demonstrates the growing interest and confidence in our project. Currently, leasing rates range from Rs. 35 to Rs. 60 per sq. ft., and as the project progresses, the future looks incredibly bright for all stakeholders involved. Construction of Tower C is underway and Tower B faade is underway, with labour currently active on-site. We are pleased with the progress made so far, and we expect the work to be in full swing by July 5. We remain committed to completing the project on schedule and seek the support of all stakeholders,” the official spokesperson of WTC Gift City said.

WTC also informed that it has initiated legal proceedings against those who spread misinformation about the project. It said that it has identified that certain individuals, with their own vested interests, have colluded to disseminate false information about the project and its management. It is regrettable that such tactics are employed to undermine the projects credibility. WTC Gift City also urged the public to critically evaluate the sources of information they encounter and rely on credible and verified sources.

The official spokesperson of WTC Gift City said, “We are committed to transparency and providing accurate information to the public, and we would like to set the record straight regarding several key points.It has come to our attention that there have been reports suggesting impropriety within our previous team. We want to emphasize that we have taken swift action to address these issues. The necessary changes have been made and a new team has been put in place. We are actively pursuing legal action where appropriate.”

WTC also informed that certain allegations of wrongful, fraudulent, and unethical practices by Mr. Kamlesh Trivedi during his tenure with the inception of the project are being investigated and in the process of investigations, documents have been discovered which prima facie indicate that Mr. Trivedi has unethically gained significant monetary value, in violation of his employment contract.

WTC further informed that the current team is dedicated to upholding the highest standards of professionalism and integrity. All stakeholders and allottees need not be worried, and their DBA’s remain unaffected.

“We understand that circumstances may have changed for some stakeholders after the global pandemic. For those interested in exploring the option of resale, we have established a dedicated resale desk to facilitate the process. Our team is available to provide guidance and support throughout this transition,” said the spokesperson.

It is important to note that GIFT City is a rising beacon in the development landscape of New India, with rates steadily increasing, reflecting the growing demand and positive market response. This is a testament to the value and potential of the project that offers to investors and tenants alike.

World Trade Centre, GIFT City announced that it would like to assure all stakeholders that it is fully committed to the successful completion of the project. “We appreciate the support and trust shown by our stakeholders thus far, and we urge everyone to remain patient and confident in the projects trajectory. By countering misinformation and providing accurate updates, we aim to foster transparency and maintain an open line of communication with all parties involved.” Said the spokesperson.

About WTC GIFT City

Located in Gift City, Ahmedabad, WTC GIFT City is an emerging global financial and IT service hub, a first of its kind in India. It is an integrated development on 886 acres of land, with the judicious combination of latest technology and global best practices in infrastructure. WTC GIFT City business complex is an IGBC certified green building offering state-of-the-art, highly energy efficient design and infrastructure. The mixed used development ranks high on quality and sustainability parameters and is designed to enable businesses.

The project is being developed by Viridian RED which is widely recognized as a catalyst and for its leadership position in the real estate landscape. With a vision to deliver innovative and quality real estate solutions in India, Viridian Real Estate Development was established as a vital part of Viridian’s integrated development platform, comprising of investments, development and asset management functions. Viridian RED is further setting new benchmarks by taking the immense potential of the World Trade Centre to all of India. The company has already identified important centres of commerce that will be key drivers for growth and has planned a strategic roadmap for a comprehensive rollout of WTCs across India and ASEAN.