Incuspaze has leased 60,000 square feet of workspace at Million Minds Tech City, a Grade-A commercial development in the Ahmedabad-GIFT City corridor, as the flexible workspace provider sharpens its presence in Gujarat amid rising demand from financial services and technology firms.
The development was inaugurated by Amit Shah on May 17, 2026.
The latest transaction gives Incuspaze capacity for more than 1,200 seats at the project and takes the company’s total portfolio in Gujarat to around 170,000 square feet. The company said the expansion strengthens its presence across commercial hubs linked to GIFT City, Gandhinagar and Ahmedabad, where office demand has been rising alongside infrastructure growth and the expansion of Global Capability Centres (GCCs).
“This acquisition is a strategic positioning in one of India’s most future-ready business corridors,” said Sanjay Chatrath, co-founder and managing partner at Incuspaze.
“The Ahmedabad–GIFT City belt is witnessing strong momentum led by GCC expansion, BFSI growth, fintech investments, and large-scale infrastructure development. Enterprises today are increasingly seeking scalable, managed, and tech-enabled office environments in emerging economic centres, and Million Minds Tech City aligns perfectly with these evolving requirements,” he said.
Million Minds Tech City is located on the Ahmedabad-Gandhinagar growth corridor near Nirma University and is connected to GIFT City, SG Highway, Gandhinagar, the airport and upcoming metro infrastructure. The building is ESG-compliant and LEED certified.
The project has been designed as an integrated enterprise destination with managed workspaces, collaborative recreation zones, conference and training facilities, EV-enabled parking and business infrastructure targeted at GCCs, multinational companies, banking and financial services firms, consulting groups and technology occupiers.
The expansion comes as Ahmedabad’s commercial property market records increasing leasing activity and tighter Grade-A office supply. Industry data cited by the company showed Ahmedabad recorded close to 2 million square feet of office leasing activity in 2025. GIFT City is expected to account for around 35% of Ahmedabad’s upcoming Grade-A office supply by 2027.
The Ahmedabad-Gandhinagar-GIFT City corridor is also becoming a preferred location for GCCs as Gujarat pushes ahead with its GCC Policy 2025-30, which aims to attract more than 250 GCCs to the state.
Demand has also been supported by GIFT City’s rise as India’s first operational International Financial Services Centre, drawing global and domestic firms from sectors including banking, fintech, aviation leasing, legal services and technology.
At the same time, Ahmedabad’s office market is increasingly turning landlord-favourable as demand from banking, financial services, insurance and information technology occupiers continues to rise, alongside higher rentals for Grade-A office assets.
