Bachchan Family Partners with Sri Lotus Developers for GIFT City Project

• Project to be developed on a 23,000 sq metre riverfront land parcel in GIFT City

• Development to follow an asset-light, profit-sharing model

• Sri Lotus Developers makes its debut in Gujarat with this project

The Bachchan family has entered into a registered development agreement with Mumbai-based Sri Lotus Developers & Realty Limited for a large-scale mixed-use real estate project in GIFT City, Gujarat, according to an official release.

The agreement relates to a strategically located land parcel that veteran actor Amitabh Bachchan acquired nearly 15 years ago. The land, situated along the Sabarmati riverfront within the GIFT City area, will now be developed into an ultra-luxury, mixed-use destination catering to the city’s evolving global business profile.

Under the terms of the deal, the Bachchan family has appointed Sri Lotus Developers as the development partner for the project. The execution will be carried out through Rise Root Projects Private Limited, a wholly owned subsidiary of Sri Lotus Developers, following a profit-sharing and asset-light structure. This model allows the landowners and developer to jointly participate in the project’s upside while optimising capital deployment.

The registered development agreement has been executed with Abhishek Bachchan, son of Amitabh Bachchan, acting as the counterparty on behalf of the family. The project site spans approximately 23,000 square metres of freehold, non-agricultural land, offering strong development potential in one of India’s fastest-growing financial districts.

The proposed development is expected to feature over one million square feet of built-up area and will be positioned as an ultra-luxury mixed-use project. Plans include premium residential apartments, Grade-A commercial office spaces, and high-end retail offerings. In addition, the layout allows for future inclusion of hospitality and serviced apartment components, aligning with the requirements of multinational occupiers and global professionals operating in GIFT City.

The project aims to tap into the rising demand from financial institutions, fintech firms, and IT/ITeS companies that are expanding operations in India’s only operational International Financial Services Centre (IFSC). With increasing interest from global players, GIFT City has emerged as a magnet for high-quality commercial and residential real estate developments.

For Sri Lotus Developers, the partnership marks a significant strategic expansion. This will be the company’s first project in Gujarat and its entry into GIFT City, moving beyond its traditional stronghold of Mumbai. The development comes shortly after the company’s initial public offering and subsequent listing on the NSE and BSE, underscoring its growth ambitions at a national level.

The association between the Bachchan family and Sri Lotus Developers is well established. Amitabh Bachchan is a pre-IPO investor in the company and also owns multiple ultra-luxury residences developed by Sri Lotus. This dual relationship—as both investor and customer—has laid the foundation for trust and long-term collaboration between the two parties.

Sri Lotus Developers has built a strong reputation in Mumbai’s ultra-luxury real estate segment, with a client list that includes several prominent Bollywood personalities such as Shah Rukh Khan, Hrithik Roshan, Tiger Shroff, and Jeetendra, among others. The developer is known for delivering complex, design-led urban projects tailored to high-net-worth individuals.

Backed by Sri Lotus Developers’ execution capabilities and experience in luxury construction, the GIFT City project is expected to be delivered over a period of approximately four years, subject to regulatory approvals and prevailing market conditions. Industry observers view the collaboration as a strong endorsement of GIFT City’s growing stature as a global financial and lifestyle destination.