DLF’s Rs 1,100-cr shopping mall to open in Noida
Realty major DLF on Wednesday said its shopping mall in Noida, touted as one of the biggest in the country and built at an investment of Rs 1,100 crore, will be opened in November.
DLF is expecting Rs 200 crore rental income per year from this mall, which has a leasable area of about 2 million sq ft.
“DLF Mall of India is going to open its doors for public with week-long festivities in November 2015,” the country’s largest real estate firm said in a statement.
“The NCR-based mall is the largest retail project from DLF Group and would add a retail space of about 2 million sq ft to the current about 2.2 million sq ft portfolio,” it added. DLF has leased over 90 <g data-gr-id="21">per cent</g> of the area in this mall, said Sriram Khattar, CEO, Rental Business, DLF Ltd. The mall would have more than 450 retail units, seven-screen cinema hall, and the food court with about 1,000 seats.
The company has adopted minimum guarantee plus revenue share model for the benefit of tenants and operations of the mall. It already has three operational malls in the national Capital.
DLF’s annual rental income from commercial properties, including offices and shopping malls, stood
at Rs 2,400 crore in the last fiscal.