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Mumbai-based Shree Lotus Developers has entered into a joint development agreement with Amitabh Bachchan to develop a large mixed-use project in GIFT City, Gandhinagar. Announced on January 7, the project will be executed through the company's subsidiary under a profit-sharing model. Spread across over 10 lakh sq ft on freehold land, the development will include premium retail, Grade-A office spaces and high-end residences. This marks Shree Lotus Developers first project in Gujarat. Located in India's first operational International Financial Services Centre, the project is expected to be completed within four years and adds to growing real estate activity in GIFT City, driven by strong infrastructure, policy support and rising commercial demand.
Mumbai-based Shree Lotus Developers has signed a joint development agreement with Bollywood icon Amitabh Bachchan to build a large mixed-use real estate project in GIFT City, Gandhinagar, Gujarat. The mandatory corporate announcement was made on January 7, with the project set to be executed by the company's subsidiary, Rise Root Projects Private Limited, under a profit-sharing arrangement with Bachchan. Advertisement
The development will span over 10 lakh square feet of built-up area on freehold land, marking Shree Lotus Developers first project in Gujarat. The mixed-use plan combines premium retail spaces, Grade-A commercial offices and high-end residential units, designed to cater to both business and lifestyle needs.
GIFT City short for Gujarat International Finance Tec-City is India's first operational International Financial Services Centre (IFSC) and is being developed as a global finance and business hub. Situated along the Sabarmati River between Ahmedabad and Gandhinagar, it encompasses both SEZ and non-SEZ areas, and has been attracting commercial, financial and residential interest due to its strategic location, robust infrastructure and policy support.
According to the developers, construction of the new project is expected to be completed within four years from the start of work, providing significant new space for office, retail and living in one of the country's fastest-growing urban economic zones.
Shree Lotus Developers currently has a portfolio that includes completed and ongoing projects totalling several lakh square feet across other Indian cities. The GIFT City venture comes amid rising demand for high-quality real estate in smart city and economic zones, driven by expanding commercial activity and investor interest.
The collaboration with Amitabh Bachchan underscores the increasing crossover between entertainment icons and large-scale real estate endeavours, adding visibility to developments in emerging markets such as GIFT City. With infrastructure advancements, including planned metro connectivity and riverfront projects, the area continues to attract developers and buyers seeking strategic and lifestyle-oriented opportunities.
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