The headquarters of International Financial Services Authority (IFSCA) — the unified regulator at Gift City in Gujarat — is expected to relocate to a permanent address around the festival of Diwali this year. 

“Our new office will be ready by October this year. Of the total 27 floors, we will be occupying about 6-7 floors. The rest will be rented out. We will be releasing a Request for Proposal for leasing out office spaces in the next 10 days. The civil works are complete. Currently, work related to facade and internal fittings are in progress,” a senior IFSCA official told the businessline. 

IFSCA, which employs more than 230 persons, currently operates out of a private office building — Pragya Tower 1 — in Gift Special Economic Zone (SEZ). The authority plans to shift to IFSCA Towers, a 106-meter high structure which is currently taking shape at the north-entrance gates of Gift SEZ. This IFSCA Tower has a built-up area of more than three lakh square feet and will be an iconic platinum-rated green building. Prime Minister Narendra Modi had laid the foundations of this structure in July 2022. It was targeted to be completed by 2024 at an estimated cost of ₹200 crore. Once ready, more than 1.6 lakh of office space in this structure will be leased out.

Offering views of the Sabarmati riverfront — currently under construction — on one side, and views of the Gift City on the other, this commercial tower has been designed to house flexible combinations of large, medium and small office spaces. The central conference centres and multipurpose halls are expected to occupy a couple of floors in this tower, separating the tenant offices from the IFSCA office floors. The top two floors might have penthouses with facilities such as offices for the IFSCA chairman and support staff and board rooms.

Published on June 16, 2025