Veteran producer and real estate businessman Anand Pandit’s close emotional relationship with the Bachchan family is not hidden from anyone. Pandit has often said that he cannot imagine any cinematic project without Amitabh Bachchan. She has also worked with Abhishek Bachchan in the OTT hit The Big Bull and recently made a big announcement that has sent a wave of excitement across the real-estate sector as well as the film industry.
Abhishek Bachchan enters real estate with Anand Pandit in Gift City project
His company, Shree Lotus Developers & Realty Limited, which is the force behind luxury and ultra luxury residential and commercial properties across Mumbai, is now expanding into GIFT City Area, Gandhinagar. What has come to light in this development is the profit-sharing agreement with Abhishek Bachchan. “He is a close friend and confidant,” says Anand Pandit, chairman and managing director of Shree Lotus Developers & Realty Ltd., which Amitabh Bachchan had bought the land about 15 years ago.
This is Lotus’ first venture in Gujarat and will include premium residential, grade-A office and retail space. “The project will be undertaken through Rise Route Projects Pvt Ltd, a subsidiary of the company, which has entered into a development agreement with Abhishek in a profit-sharing arrangement,” explains Pandit.
The project boasts of a built-up area of over 1 million sq ft and also marks Abhishek’s first foray into real estate development. Pandit concluded, “We couldn’t be happier to combine our strategic entry into the GIFT City region with Abhishek’s sharp creative and business acumen. We look forward to working with him and growing our presence in the high-potential, emerging real estate market.”
The project is designed to meet the growing demand of financial institutions, fintech firms and IT/ITES companies. Backed 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 Mr. Rajesh Yadav, MD of ABCL.
