Prestige has joined hands with Chennai-based Vijaya Productions to jointly develop a nearly 1.5 million sq ft mega mall cum multiplex at Vadapalani in Chennai. The mall and the multiplex would be developed at a cost of Rs 380 crore, including land cost. The project is expected to be completed by March, 2009.
According to sources in Prestige, the 1.48 million sq ft development will include a large retail area, a nine-screen multiplex and a 0.3 million sq ft commercial office space. Besides, it will also have a 23-level multi-level car parking to accommodate about 2,000 cars. “It will be a single block 12 tower structure, with a floor plate size of 1.2 lakh sq ft each. While the retail and the multiplex space will face the Arcot Road, the rear space will be a mix of retail, commercial and parking levels,” Stephen Daniel, general manager for Prestige projects in Chennai told ET. He said, the project has already received the clearance from the Union ministry of environment and forests and the pile foundation work is almost complete. “We are in the process of finalising other contracts, including our construction partner, where we have received bids from some of the prestigious companies,” Mr Daniel said.
Unlike the usual practice, where a mall developer first identifies an anchor client, before starting the construction, Prestige is yet to do that. “We are confident that we will attract the right anchor client as the project progresses,” he said. For the multiplex too, a couple of players including Chennai’s Satyam Cinemas and Delhi’s PVR are in the fray.
According to sources in Prestige, the 1.48 million sq ft development will include a large retail area, a nine-screen multiplex and a 0.3 million sq ft commercial office space. Besides, it will also have a 23-level multi-level car parking to accommodate about 2,000 cars. “It will be a single block 12 tower structure, with a floor plate size of 1.2 lakh sq ft each. While the retail and the multiplex space will face the Arcot Road, the rear space will be a mix of retail, commercial and parking levels,” Stephen Daniel, general manager for Prestige projects in Chennai told ET. He said, the project has already received the clearance from the Union ministry of environment and forests and the pile foundation work is almost complete. “We are in the process of finalising other contracts, including our construction partner, where we have received bids from some of the prestigious companies,” Mr Daniel said.
Unlike the usual practice, where a mall developer first identifies an anchor client, before starting the construction, Prestige is yet to do that. “We are confident that we will attract the right anchor client as the project progresses,” he said. For the multiplex too, a couple of players including Chennai’s Satyam Cinemas and Delhi’s PVR are in the fray.
1 comment:
pipe grooving machine rental now in chennai you may buy that product is very good and best price ask the dealer in chennai region
Post a Comment