Parsvnath Developers Partner Unity Group To Build Mall In West Delhi
Realty firm Parsvnath Developers has tied up with Unity Buildwell to develop a 4 lakh square feet luxury retail mall in West Delhi and both partners expect rental income of at least Rs 100 crore annually from this project. The construction of the shopping mall has started and is expected to be completed by the end of the next year, Parsvnath Chairman Pradeep Jain. "We had got a 28,400 square meter land at Netaji Subhash Place, Pitampura in West Delhi from the Delhi Metro Rail Corporation Ltd on a 30-year lease. The land is fully-paid. We have tied up with Unity Buildwell to develop a high-end mall," he said. Parsvnath Developers will have 51 per cent, while Unity Buildwell will have the remaining 49 per cent stake in a special purpose vehicle (SPV) created by the two partners to develop this project.
Tags : News/Views Parsvnath Developers Unity Group luxury Retail Land Shopping mall Unity Buildwell Delhi Metro Rail Corporation Ltd