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Sri Lotus Developers & Realty Ltd has entered Gujarat's real estate market through a joint development agreement with actor Abhishek Bachchan for an ultra-luxury mixed-use project at GIFT City, Gandhinagar. The development will come up on a freehold land parcel owned by Bachchan and acquired nearly 15 years ago. Spanning over 1 million sq ft of built-up area, the project marks the developer's first foray into Gujarat and will be executed through its subsidiary, Rise Root Projects Pvt Ltd, under a profit-sharing arrangement. The move aligns with the growing demand for premium residential and commercial spaces in GIFT City, which is emerging as a global financial hub backed by strong infrastructure, progressive policies and rising domestic and international investor interest.
Sri Lotus Developers & Realty Ltd has announced its entry into the Gujarat real estate market through a joint development agreement with actor Abhishek Bachchan for an ultra-luxury mixed-use project at GIFT City, Gandhinagar. The project will be developed on a freehold land parcel owned by Bachchan, which was acquired nearly 15 years ago, and will feature a built-up area exceeding 1 million sq ft. Advertisement
The Mumbai-based developer stated that the project will be undertaken through its subsidiary, Rise Root Projects Pvt Ltd, which has entered into the development agreement with Abhishek Bachchan under a profit-sharing structure. While the company has not disclosed the total investment value, it confirmed that this development represents its first project in Gujarat, marking a strategic expansion beyond its existing markets.
Planned as an ultra-luxury mixed-use development, the project will include premium residential and commercial components designed to cater to high-end demand. The entry into GIFT City reflects the growing prominence of the region as a national and international financial and business hub, supported by robust infrastructure, policy-driven incentives and increasing interest from global investors.
Anand K Pandit, Chairman and Managing Director of Sri Lotus Developers & Realty Ltd, said that GIFT City is fast emerging as a preferred destination for premium real estate, driven by its strong economic fundamentals and expanding ecosystem. He added that the company's expansion into Gujarat is aimed at addressing the rising demand for ultra-luxury residential and commercial spaces in future-ready urban centres.
Sri Lotus Developers has an established presence in the luxury real estate segment, having completed four projects aggregating over 4.2 lakh sq ft of carpet area. The company currently has six ongoing projects and 12 upcoming developments, together covering around 27.6 lakh sq ft of carpet area and 20.5 lakh sq ft of saleable area.
With the GIFT City project, Sri Lotus Developers aims to leverage its expertise in luxury development while tapping into Gujarat's growing real estate potential. The collaboration also adds visibility to the project, positioning it as a significant addition to GIFT City's evolving urban landscape.
Source - PTI
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