Bachchan jr has entered a profit-sharing agreement with producer and real estate entrepreneur Anand Pandit with a project in GIFT City, Gandhinagar, on the land originally acquired by his father years ago
(L-R) Abhishek Bachchan and Amitabh Bachchan. PICS/INSTAGRAM
It’s hard not to recall Amitabh Bachchan’s iconic Gujarat tourism campaign when news emerges of the Bachchan family’s renewed link with the state. This time, however, the focus shifts to Abhishek Bachchan, who is stepping into real estate with a project in GIFT City, Gandhinagar — on the land originally acquired by his father years ago.
Bachchan jr has entered a profit-sharing agreement with producer and real estate entrepreneur Anand Pandit, whose real estate firm is expanding into Gujarat for the first time. A source told mid-day, “Veteran producer and real estate tycoon Anand Pandit’s close emotional ties with the Bachchan family are no secret. After collaborating with Abhishek in the OTT film The Big Bull (2021) he has joined hands with the actor for his real estate project. The duo will develope luxury residential, and commercial properties across the GIFT City area in Gandhinagar. It is Anand’s first venture.”
Anand Pandit
Confirming the development, Pandit told mid-day, “Abhishek is a close friend and confidant. 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.”
He added, “For this project, we have entered into a development agreement with Abhishek under a profit-sharing model. The project is being taken up through my company which has entered into a development agreement with Abhishek under a profit-sharing model. The property will be developed into premium residential, grade-A office and retail spaces with a built-up area of over one million sq.ft.”
Pandit further revealed that the land was purchased by Amitabh Bachchan around 15 years ago when he was the brand ambassador of Gujarat [early 2010]. “Yes, and then he gifted it to Abhishek,” clncluded Pandit.
Gift City stands for Gujarat International Finance Tec-City, a planned global financial and IT services hub located between Ahmedabad and Gandhinagar in Gujarat
Besides being a part of the entertainment industry, Abhishek Bachchan also co-owns Jaipur Pink Panthers, a professional kabaddi team from Jaipur that competes in the Pro Kabaddi League
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