Parsvnath Developers JV with Unity Group to Develop 4,50,000 SqFt Mall
A joint development agreement has been formed by the Delhi-based Unity Group and Parsvnath Developers. As per the agreement, the companies are going to develop 4,50,000 square feet of the retail area according to Harsh V Bansal, Co-Founder of Unity Group. The retail area will be developed with an investment of Rs 200 crore. The bridge-to-luxury mall is situated near Netaji Subhash Place metro station and the land is on lease from Delhi Metro. The agreement is a part of the firm’s plan for doubling its retail portfolio and creating a retail Real Estate Investment Trust (REIT). Unity Group is expecting Rs 100 crore in rental income each year.
Tags : development agreement Unity group Delhi Parsvnath Developers luxury mall Real Estate Investment Trust