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Veteran producer and real estate tycoon Anand Pandit's close emotional ties with the Bachchan family are no secret. Pandit has often said that he cannot envision any cinematic project without Amitabh Bachchan. He has also worked with Abhishek Bachchan in the OTT hit The Big Bull and recently made a major announcement that sent ripples of excitement in the real-estate sector as well as the film industry.
Abhishek Bachchan enters real estate with Anand Pandit in GIFT City project
His company, Sri Lotus Developers & Realty Limited, the force behind luxury and ultra luxury residential and commercial properties across Mumbai, is now expanding into the GIFT City Area, Gandhinagar. What stands out in this development is a profit-sharing agreement with Abhishek Bachchan. "He is a close friend and confidant," says Anand Pandit, Chairman & Managing Director, Sri Lotus Developers & Realty Limited. This land was purchased by Amitabh Bachchan almost 15 years ago
This is Lotus’ first venture in Gujarat and will feature premium residential, Grade-A office and retail spaces. "The project will be undertaken through a subsidiary of the Company, Rise Root Projects Pvt. Ltd., which has entered into a Development Agreement with Abhishek in a profit-sharing arrangement," Pandit explains.
The project boasts a built-up area of over 1 million sq. ft and also signals Abhishek's first foray into real estate development. "We could not be happier to align our strategic entry into the GIFT City Area with Abhishek's rather sharp creative and business acumen. We look forward to working with him and scaling our presence in a high-potential, emerging real estate market," concludes Pandit.
The project is designed to address the growing demand from financial institutions, fintech firms and IT / ITeS companies. Supported by Pandit's strong execution capabilities and proven track record of timely delivery, the project is expected to be completed over a period of 4 years. The Development agreement was registered by the MD of ABCL, Mr Rajesh Yadav.
Also Read: Shah Rukh Khan, Anand Pandit and Amitabh Bachchan join Bollywood’s billionaire club
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