Bollywood superstar Amitabh Bachchan’s family has executed a registered development agreement with Anand K. Pandit–led Sri Lotus Developers & Realty Limited for a high-end mixed-use real estate project spanning over 23,000 sq ft in GIFT City, Gandhinagar, Gujarat.
The deal with the Mumbai-based real-estate company advances the development of a land parcel that Bollywood legend Amitabh Bachchan acquired nearly 15 years ago. The Bachchan family has appointed Sri Lotus Developers as its development partner for the project.
The development will be executed through Rise Root Projects Private Limited, a wholly owned subsidiary of Sri Lotus Developers, under a profit-sharing, asset-light structure. The site comprises approximately 23,000 square metres 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 association between the Bachchan family and Sri Lotus Developers is not new. Amitabh Bachchan is a pre-IPO investor in Sri Lotus Developers & Realty Limited and owns multiple ultra-luxury residences developed by the company, making him both a long-standing investor and an established client of the ultra-luxury real estate developer.
The proposed development will encompass over 1 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.
The project is designed to address increasing demand from financial institutions, fintech firms and IT/ITeS companies operating within India’s only operational international financial services centre. Supported by Sri Lotus Developers’ execution capabilities and track record in complex urban developments, the project is expected to be delivered over a period of four years subject to regulatory approvals and market conditions.
Sri Lotus Developers has, over the years, built a niche reputation in Mumbai’s ultra-luxury housing segment with a clientele that includes several prominent Bollywood figures like Shah Rukh Khan, Hrithik Roshan, Tiger Shroff and Jeetendra, among others.
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