DLF launches one of the biggest shopping destinations ‘Mall of India’ in Noida
28th April 2016Category : Real EstatePublished by :Rahul Verma Reading Time : 3 Minute News Sourced : India
Gurgaon-based DLF Ltd has launched one of the biggest shoppers paradise, ‘Mall of India’ in the demanding destination, sector 18 Noida. The Mall consisting of two million sq. ft retail and entertainment space is expected to pull about Rs.250 cr of rental annually for the realty mammoth.
The heaven for shoppers is roped by around 250 brands and touted to be the biggest retail space in India. This is second mall kick started in NCR in April, after Logix City Center in Noida’s sector 32.
The ongoing lull in real estate has marred construction speed of the biggest projects and this would be the golden time of having ‘Mall of India’ in the NCR.
DLF, India’s largest developer by market value, has also crossed the challenges of debt burden and real estate dullness; it is off course a sigh of relief to the company after officially launching its dream retail property at a time.
The media reports says,’ DLF promoters will sell their 40 stake in rental arm DLF Cyber City Developers (DCCDL)’, the firm owns 60 pc share in DCCDL. The company also reportedly sold its shopping mall in Saket, New Delhi, to its wholly owned subsidiary for Rs 904 cr, to consolidate the rental assets.