VMPL
Ahmedabad (Gujarat) [India], September 23: As India’s commercial real estate landscape expands beyond traditional metros, Ahmedabad is rapidly cementing its place as the country’s next major commercial hub. Spearheading this transformation is Ganesh Housing Corporation Ltd., that has its flagship project, Million Minds Tech City on SG Highway, near Vaishnodevi Circle, is poised to redefine the state’s commercial real estate blueprint. According to a Ganesh Housing-led crowdsourced report, Ahmedabad has emerged as the country’s most compelling new business destination, experiencing an unprecedented 64% year-on-year increase in commercial transactions.
Ganesh Housing stands poised to lead Gujarat’s bold new chapter in India’s commercial property market that is set to deliver 40 million+ sq ft of new supply over the next five years.
Gujarat’s forward-thinking policies–such as the IT/ITeS Policy and GCC Policy 2025-30–are fast-tracking commercial real estate growth, offering projects like Million Minds Tech City incentives of up to ₹200 crore, tax benefits, green building FSI advantages, and speedy clearances in priority zones like GIFT City and Dholera. Projects aligned with these policies, including Million Minds Tech City, benefit from:
Capital incentives up to ₹200 Cr.
Tax sops and interest subsidies
Green FSI advantages
Fast-track approvals in special zones like GIFT City and Dholera
Capital support of 30% for IT infrastructure for GCCs
Dedicated GCC zones/clusters with plug-and-play infrastructure and ensures fast-track approvals
With IT-BPM driving 68% of leasing activity in Q1 2025 and over 72% of new developments under 2.46 lakh sq. ft., the market is experiencing a clear gap, fuelling demand for larger, integrated Grade A+ campuses that can meet the needs of modern enterprises. The findings from this report further indicate a structural realignment in Gujarat’s commercial real estate ecosystem, where new-generation CBDs are no longer limited to traditional core areas but are now taking shape in strategically positioned, policy-aligned corridors–and Million Minds Tech City is at the forefront of this shift.
Viren Mehta, President, Sales, Ganesh Housing Corporation Ltd., stated, “The commercial property market has evolved decisively. Companies today are cautious to pay premium rents for average facilities simply because they’re in mega-metros. What we have built at Million Minds Tech City proves you can deliver international standards at sensible prices. Our tenants enjoy Grade A facilities with significant cost advantages compared to corporate hubs in Mumbai and Delhi — a shift that’s completely transformed the narrative. With progressive state policies, infrastructure primed for scale, and a developer ecosystem built for speed and quality, we believe Million Minds Tech City is poised to become the nucleus of Gujarat’s commercial evolution.”
Among the most prominent emerging zones is Vaishnodevi Circle, located along SG Highway. Once considered peripheral, this micro-market is now commanding attention from leading IT firms, Global Capability Centers, and large-format occupiers–a direct outcome of its infrastructure readiness, policy support, and improved connectivity.
The success of Million Minds Tech City, alongside the transparent regulatory framework of RERA (which has seen 796 commercial and 1,969 mixed-use project registrations in Ahmedabad as of March 2025), demonstrates Ahmedabad’s solidified position as Gujarat’s commercial capital. Emerging micro-markets like Vaishnodevi Circle are also becoming next-gen CBDs, further diversifying the city’s commercial landscape.
About Ganesh Housing Corporation Limited
Ganesh Housing Corporation Limited, headquartered in Ahmedabad, Gujarat, stands as a pioneering force in India’s real estate sector with over six decades of excellence. The company made history as one of the first real estate developers to be listed on both the NSE and BSE, demonstrating its commitment to transparency and financial governance.
The company has demonstrated remarkable growth, having completed over 22 million square feet of development while maintaining an impressive 35 million square feet of ongoing projects. Their diverse portfolio encompasses Grade A+ commercial spaces, luxury residential properties, villas, industrial hubs, and data centers. Their commitment to quality is validated by their ISO 9001:2015 certification. Ganesh Housing’s diverse portfolio also features signature developments such as Ganesh Genesis and Maple Tree Garden Homes, reflecting the company’s commitment to quality, comfort, and value. Beyond real estate, Ganesh Housing is committed to social responsibility through initiatives in education, healthcare, and environmental sustainability, ensuring a positive community impact alongside business growth.
About Million Minds Tech City
Ganesh Housing’s flagship project, Million Minds Tech City, represents their most ambitious venture to date. Located at Vaishnodevi Circle in Ahmedabad’s Central Business District, this 65-acre integrated township offers 18 million square feet of premier development. Designed by globally acclaimed RSP Architects and managed by international infrastructure leader Tishman Speyer, the project exemplifies modern urban planning. The development allocates 80% to high-end Grade A commercial spaces and 20% to luxury residential offerings, creating a dynamic walk-to-work ecosystem. The project features IT parks, luxury residences, a premium hotel, retail spaces, and over 1.2 million square feet of world-class amenities, including innovative features like floating gardens. The project’s IGBC Platinum certification underscores the company’s commitment to sustainable development.
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