Infosys Limited has leased 103,000 square feet of office space in Gujarat’s GIFT City for a monthly rent of Rs 5.73 million, marking a strategic expansion into India’s only operational International Financial Services Centre (IFSC). The 10-year lease, signed for the PRAGYA-2 building in Gandhinagar, began in October 2024 and includes annual rent escalations of 5 per cent.

The new development centre spans four floors (14 to 17) and can accommodate around 1,000 employees. Infosys will pay Rs 55 per sq ft per month on the chargeable area and Rs 108 per sq ft on the 53,020 sq ft carpet area. The lease also includes 71 dedicated parking spaces and a three-year lock-in period. A security deposit of Rs 34.3 million has been paid to the landlord, Savvy Realty Creators LLP.

The facility was officially inaugurated on 7 June by Gujarat Chief Minister Bhupendrabhai Patel. It is positioned as a TechFin hub focused on digital solutions for global BFSI clients. Services will span digital banking, trade finance, regulatory affairs, capital markets, payments, and risk management.

Infosys CFO Jayesh Sanghrajka said the new centre aligns with the company’s vision to lead innovation in financial services from within India’s foremost international finance hub. “GIFT City offers a future-ready environment that enables digital transformation through technologies like AI, Gen AI, cloud, and blockchain,” he added.

GIFT City, located between Ahmedabad and Gandhinagar, covers 880 acres along the Sabarmati River. It is divided into a Special Economic Zone (SEZ) for export-oriented business and a Domestic Tariff Area (DTA) for commercial and residential use. Around 30 per cent of the city is currently operational.

Real estate experts highlight high demand in the SEZ zone, with vacancy rates as low as 1.46 per cent and annual net absorption of 0.5 million sq ft. Rentals for Grade A buildings now exceed Rs 70 per sq ft per month, with new supply expected in late 2025.

The city's commercial strength is underpinned by the presence of major firms like Cognizant, Wipro, Bank of America, Morgan Stanley, and JP Morgan. On the residential front, over 14 million sq ft is allocated for housing, and 6 million sq ft for social infrastructure.

Experts suggest that real estate investors can expect returns of 7 to 8 per cent in GIFT City, supported by tax incentives in the IFSC such as exemptions on GST, STT, CTT, and stamp duty for certain financial transactions. With global investor interest rising, GIFT City is fast emerging as a preferred destination for technology and financial services.