Sri Lotus Developers Enters GIFT City with 1 Million Sq. Ft. Project
Filing Summary
Sri Lotus Developers and Realty Ltd has signed a development agreement with Shri Abhishek Bachchan for a project in GIFT City Area, Gandhinagar, Gujarat. The project, executed through its subsidiary Rise Root Projects Pvt. Ltd., will cover over 1 million sq. ft. of built-up area. This marks the company’s first venture in Gujarat, expanding beyond its core Mumbai market. The development will include premium retail, commercial office spaces, and residential units. The project is expected to be completed within four years post-launch.
Sri Lotus Developers and Realty Ltd has announced a strategic expansion into the GIFT City Area, Gandhinagar, Gujarat. The company has signed a development agreement with Shri Abhishek Bachchan for a project covering over 1 million sq. ft. of built-up area. This project will be executed through the company’s wholly-owned subsidiary, Rise Root Projects Pvt. Ltd., marking Sri Lotus Developers’ first project in Gujarat.
The financial terms of the agreement involve a profit-sharing arrangement with Shri Abhishek Bachchan. This approach allows Sri Lotus Developers to leverage its core strengths in design, planning, development, and execution. The project is structured to enhance capital efficiency through an asset-light model, enabling the company to scale its presence in the emerging real estate market of GIFT City.
The development will feature a mix of premium retail spaces, Grade-A commercial office spaces, and high-end residential units. The project is designed to meet the growing demand from financial institutions, fintech firms, and IT/ITeS companies. The company aims to utilize its strong execution capabilities and proven track record of timely delivery to complete the project efficiently.
The GIFT City Area is emerging as a significant financial and business hub, supported by progressive policy initiatives and robust infrastructure development. This expansion is a key milestone for Sri Lotus Developers as it moves beyond its core market in Mumbai. The project aligns with the company’s strategy to address the rising demand for premium and ultra-luxury spaces in the region.
The project is expected to be completed over a period of four years following its launch. The development agreement with Shri Abhishek Bachchan signifies a collaborative effort to capitalize on the opportunities within the GIFT City Area. The project will be managed by Rise Root Projects Pvt. Ltd., ensuring adherence to the planned timeline and quality standards.
Sri Lotus Developers and Realty Ltd, incorporated in 2015, specializes in luxury and ultra-luxury residential and commercial projects. The company focuses on redevelopment in Mumbai’s western suburbs, with plans to expand into South and Central Mumbai, Bandra, and Versova. Sri Lotus Developers manages end-to-end project execution, ensuring consistent quality and customer satisfaction.