Real estate major, Parsvnath Developers has revealed its plan to invest up to Rs 300 crore for developing the Mall in Rohini. It will be the first standalone shopping mall of Parsvnath in the city however the company already has 13 metro malls in different cities.
The company mainly promotes, develops and maintains real estate. It includes township development, construction of retail shopping malls, hospitals, hotels and clubs. The Group operates in two business segments namely Self Owned Projects and BOT Projects.
The company today announced the commencement of construction of the mall christened Parsvnath Mall. “The investment to develop this mall will be around Rs 280-300 crore,” Parsvnath Developers Chairman Pradeep Jain told reporters.
The Parsvanath Mall has covered a total area of around 7,300 sq meters with a saleable area of around 2.63 lac sq ft. “The rental for the shopping mall would be Rs 200 per sq ft per month,” Jain added.
Company is targeting to build the mall in international standard and completing it by next year. Company has been very selective in offering mall space to brands to ensure proper tenant mix in line with the demand of local residents.
Company is now eyeing to introduce a luxury mall composed of with foreign branded products in the city. Company is also developing malls on six DMRC stations in the city.