Home / Business and Economy / Abhishek Bachchan Builds on Dad's Rs 7 Cr Land Gift
Abhishek Bachchan Builds on Dad's Rs 7 Cr Land Gift
12 Jan
Summary
- Abhishek Bachchan partners for luxury project in GIFT City.
- Land bought by Amitabh Bachchan in 2007 for Rs 7 Cr now valued at Rs 210 Cr.
- Project to feature residential, office, and retail spaces over one million sq ft.
Abhishek Bachchan is embarking on a significant real estate venture in GIFT City, Gandhinagar, Gujarat. He has partnered with producer Anand Pandit to develop a massive project featuring luxury residential, office, and retail spaces spanning over one million square feet of built-up area. The development is situated on land originally purchased by Amitabh Bachchan over a decade ago when he served as Gujarat's brand ambassador.
The land parcel, located near GIFT City in Shahpur village, was acquired by Amitabh Bachchan for Rs 7 crore. Astonishingly, its current valuation has soared to an estimated Rs 210 crore, representing a remarkable Rs 203 crore increase in value over approximately 15 years. This surge in land value has reportedly boosted investor confidence in the region, contributing to its overall development.
Under a profit-sharing agreement, Abhishek Bachchan will oversee the project's execution through Rise Root Projects Pvt. Ltd., a subsidiary of Lotus Developers, which will manage design, planning, and construction. The Bachchan family will retain ownership of the land, underscoring their continued investment and belief in the burgeoning GIFT City area.
