Mumbai: The Bachchan family has executed a registered development agreement in partnership with Anand K. Pandit-led Sri Lotus Developers & Realty Limited, for a large mixed-use real estate project in GIFT
City, Gandhinagar. The land was acquired by Bollywood legend Amitabh Bachchan nearly 15 years ago, according to registration documents reviewed.
Details
The development will be executed through Rise Root Projects Private Limited, a wholly owned subsidiary of Sri LotusDevelopers, under a profit-sharing, asset-light structure.
The site comprises approximately 23,000 square metre of freehold, non-agricultural land located along the Sabarmati riverfront within the GIFT City area. The development agreement has been executed with the legend’s son and actor Abhishek Bachchan as the counterparty.
For Sri Lotus Developers, the agreement represents a strategic entry into Gujarat and its first project in GIFT City, marking an expansion beyond its core Mumbai market shortly after the company’s initial public offering and subsequent listing on the NSE and BSE. The developer has built its portfolio around ultra-luxury residential and premium commercial developments in Mumbai’s prime micro-markets, including Juhu, Bandra, Prabhadevi, Versova, Nepean Sea Road and Andheri, catering to an ultra-premium customer base.
The proposed development will encompass over one million square feet of built-up area and will be positioned as an ultra-luxury mixed-use project. The planned configuration includes high-end residential units, Grade-A commercial office spaces and premium retail, with scope for hospitality and serviced apartment components, in line with the evolving occupier profile of GIFT City.
GIFT City has emerged as a key financial and business hub, driven by regulatory incentives, infrastructure development and growing participation from domestic and international institutions.
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