The Bachchan family has entered into a registered development agreement with Anand K. Pandit–led Sri Lotus Developers & Realty Limited for a large mixed-use real estate project in GIFT City, Gandhinagar, according to registration documents reviewed. The agreement advances the development of a land parcel acquired by Amitabh Bachchan nearly 15 years ago.
The project will be executed through Rise Root Projects Private Limited, a wholly owned subsidiary of Sri Lotus Developers, under an asset-light, profit-sharing structure. As per the documents, the Bachchan family has appointed Sri Lotus Developers as the development partner. The agreement has been executed with actor Abhishek Bachchan as the counterparty and formally registered by Rajesh Yadav, Managing Director of AB Corp Ltd.
The site spans around 23,000 square metres of freehold, non-agricultural land along the Sabarmati riverfront within GIFT City. The proposed development is expected to comprise over one million square feet of built-up area and will be positioned as an ultra-luxury mixed-use project, including high-end residences, Grade-A commercial offices and premium retail, with potential hospitality and serviced apartment components.
For Sri Lotus Developers, the project marks its entry into Gujarat and its first development in GIFT City, expanding beyond its core Mumbai market shortly after its IPO and listing on the NSE and BSE. The developer is known for ultra-luxury residential and premium commercial projects across prime Mumbai locations such as Juhu, Bandra, Prabhadevi, Versova, Nepean Sea Road and Andheri.
The project is expected to cater to rising demand from financial institutions, fintech firms and IT/ITeS companies operating in India’s only operational international financial services centre. Subject to regulatory approvals and market conditions, the development timeline is estimated at around four years.
GIFT City has gained momentum as a financial and business hub, driven by regulatory incentives and infrastructure development. The Bachchan family’s early land acquisition positions this project among the more prominent private developments now moving towards execution.
The association between the Bachchan family and Sri Lotus Developers dates back several years. Amitabh Bachchan is a pre-IPO investor in the company and also owns multiple ultra-luxury residences developed by Sri Lotus. The developer’s client base includes several prominent Bollywood personalities, underscoring its strong presence in the ultra-luxury housing segment.
