Hello, Vijay,
TLDR: For instructions on how to choose the connect mode during instance creation, see Creating a Redis instance with a Shared VPC network in a service project or Creating a Redis instance with a centralized IP address range.
With that being said, what are your requirements for the configuration?
This documentation gives an overview of networking for Memorystore for Redis. Memorystore for Redis supports two connection modes, DIRECT_PEERING and PRIVATE_SERVICE_ACCESS.
In Direct peering mode, Memorystore creates a VPC peering between the customer VPC network and the VPC network in the Google-managed project.
In Private services access, GCP automatically creates a peering between your VPC network and the Google services network.
[Note: Redis is an PAAS offering, so once DB instance is rolled out, it will create Google service VPC which would be peered to customer VPC]
Kindly go through this documentation which shares steps on how to create a Redis instance that uses a centralized IP address range.
To establish an application connection to a Redis Instance, kindly go through this documentation page.
I hope you found the information useful.
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