Located near Gujarati Sahitya Parishad office, the centre was inaugurated by Mayor Kanaji Thakore. It will function for a week.

Municipal Commissioner I P Gautam, who had declared that the project was not profit oriented, said it is self-financed and the cost of Rs 1,500 crore would be recovered from the investment proposals.

The proposals are expected to be to the tune of Rs 10,000 crore.

Against 20 per cent of the reclaimed land approved by the government for commercial development, the AMC would go for 15 per cent of the 162 hectares.

The major chunk of 85 per cent would be for gardens and public utilities like roads and parks, he said, claiming the project would be environment- friendly. Of this 85 per cent land, 20 per cent would be for slum upgradation, he added.

Gautam said the information centre was opened to enable prospective buyers to choose from various sizes of plots ranging from 5,000 to 8,000 sq metres so that project work and construction of towers could go simultaneously. The development rules would be worked out after the AMC gets feedback from the visitors, he said.

Gautam said there would be no separate formula for levying property tax on buildings coming up on the riverfront, even though there would be separate rules for buying land.

A 24-metre road would be built between existing buildings and the plots on the reclaimed land, he added.