The HinduThe proposed ‘biggest mall’ in the region will have 220 shops
An artiste's impression of the proposed shopping mall to be built in Gulbarga under the private-public partnership.— PHOTO: ARUN KULKARNI
The State government has given the nod to the Gulbarga Development Authority (GDA) to construct a mega shopping mall on public-private participation on over three acres of land adjacent to the Central bus-stand here.
Vidyasagar Kulkarni, GDA chairman, told The Hindu here on Friday that this would be one of the biggest shopping malls in Hyderabad Karnataka region with more than 220 shops.
Mr. Kulkarni said the mall would be established at a prime spot near the City Central bus-stand on the Gulbarga-Afzalpur State highway. Already many builders, including Mantri, had contacted the GDA evincing interest in the project. The GDA has decided to name the shopping mall Pandit Deendayal Upadyaya Shopping Complex, in memory of the stalwart of the erstwhile Jan Sangh.
As per the guidelines stipulated by the State government, the GDA would not invest any money in the project. The costs would be borne by the private builders. The private builder would have to pay a non-refundable amount of Rs. 5 crore to the GDA at the time of allotment of the project. Mr. Kulkarni said another condition states that the private builder would have to hand over the mall to the GDA after a lease period of 30 years. Apart from the initial payment of Rs. 5 crore, the private builder would have to pay a yearly rental of around Rs. 15 lakh. As per the estimates prepared by the GDA, Mr. Kulkarni said the project cost would be more than Rs. 57 crore, which may go up as per requirements of the private builder.
“In lean months, fixed liability in terms of rents hurt our pockets. Therefore, in our upcoming property in Gulbarga ( Karnataka), we have signed a revenue-sharing deal with the developer,” said Jitendra Mehta, chief financial officer, Cinemax India Ltd. “While we are going slow in our pan-India, tier 2 and 3 expansion, our focus is in smaller towns in south (India).”
http://www.sherrieffbuilders.com/projects.htmlPrime Mall is Situated on the 100' main Road just diagonally opposite to mini Vidhan Soudha, The total built-up area of the mall is one lakh square feet.
The mall is designed with a modern approach. All stores are atrium facing thus making it easy for shoppers to see in a single glance the options available. With its wide mix of retailers, it offers shoppers a wide range covering many product categories. The wide range of entertainment, food & Beverages also gives residents a reason to visit regularly for shopping
Prime mall is building a large retailspace that will match any international standards, Over 60,000.00 sq. ft. area has been assigned