Velachery to become hot mall spot in Chennai

A 2 million sq.ft. mall is on the anvil in Velachery, on the outskirts of Chennai city. A 16+ acre plot has been purchased by Kshitij Venture Capital, a retail real estate venture fund promoted by the Pantaloon group with equal joint venture partnership by Atul Ruia of Mumbai and Sharyans Resources of Chennai.

The project is expected to be developed in the next two to three years and will be a retail-led mixed-use property. The Kshitij Investment Advisory Co. is planning to construct 51 malls across the country with a total of 14.5 million sq.ft. The proposed locations are in the four metros as well as Bangalore, Hyderabad and Pune as well as tier II towns like Coimbatore, Madurai, Vijayawada, Rajahmundry, Kozhikode, Kochi and Hubli. US-based architect group Callison and Rockwell will design the malls.

A mall management company is also being planned with the company reportedly in talks with a few international firms. The entire project will however, be marketed exclusively by Kshitij.


By INRnews Correspondent

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Comments

Il believe it when i see it for real.

on which road of velacherry u have purchased 16 acres.

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