Sri Lotus Developers & Realty has announced its expansion into the GIFT City Area, Gandhinagar through a development agreement (DA) with Abhishek Bachchan. The project will have a built up area of over
1 million sq. ft.
The Company has made a strategic entry into the GIFT City Area, Gandhinagar with an ultra-luxury, mixed-use development on freehold land, marking Lotus' first project in Gujarat and a key milestone in its growth journey beyond its core Mumbai market. The project will be undertaken through subsidiary of the Company “Rise Root Projects' which entered into a Development Agreement with Shri Abhishek Bachchan having profit sharing arrangement, enabling the Company to leverage its core strengths in design, planning, development, and execution. This asset-light approach is expected to enhance capital efficiency while allowing Lotus to scale its presence in a high-potential, emerging real estate market.
The proposed development will comprise a thoughtfully planned mix of premium retail, Grade-A commercial office spaces and high-end residential units etc. The project is designed to address the growing demand from financial institutions, fintech firms and IT / ITeS companies. Supported by the Company's strong execution capabilities and proven
track record of timely delivery, the project is expected to be completed over a period of 4 years post launch of the project.