Here we are sharing a piece of big news with you that Dharampal Satyapal Group (DS Group) has been preparing to acquire the Great India Place Mall complex at Noida in Delhi-NCR. The Great India Place Mall is one of the best and most popular shopping malls and it is better known as a family shopping destination mall in Noida & Delhi NCR. It is much more than just a shopping mall. Since the news has come on the internet many people have been super curious to know about the whole information about it. We have more information about the news and will share it with you in this article.
A newspaper report citing sources said the potential deal is hoped to be valued at Rs 2,000 crore, which if set, would be a powerful marketing within Noida’s real estate sector. The company has been growing its presence in the retail and hospitality sector,” the source familiar with the case. Since the news came on the internet it went viral and uncounted reactions started hitting the headlines on the internet. You are on the right page for more information about the news, so please read the complete article.
Reportedly, the full complex has a developed region of 147 acres, including diverse malls and vacant spaces that offer the possibility of making either retail or residential buildings. At present, there has been around 1.7 million sq ft of space available for development. One of the biggest malls in India The Great India Place was a joint development between the the Unitech Group and Appu Ghar Group. Unitech retains a 42% stake in the mall, with the remaining license distributed among other investors. Scroll down to the next page for more information about the news.
As far as we know, the Financial Daily recited another individual with knowledge of the matter as stating that the complex is on the market for sale because of an existing debt of around Rs 1,000 crore. The preset promoters include the crisis-hit Unitech Group, who discover themselves in an awkward financial situation. Developing this property would give an important boost to any company looking to grow in the retail sector. Retail leasing in India increased by 21% in 2022, largely driven by fashion retailers, hypermarkets, and restaurants, a CBRE report showed. Here we have shared all the information which we had if we get any information then we will update you soon. Stay tuned to us for more updates.