News on the latest developments effecting the property markets in Chandigarh, Mohali, Mullanpur and Panchkula in India.
Friday, December 23, 2011
World’s largest mall in Sector 62
The Greater Mohali Area Development Authority plans to set up the world’s largest mall in Sector 62 (Phase VIII), Mohali. Currently, the largest mall in the world is in Minnesota, the USA. It is spread over 4.2 million square feet while the one in Mohali is envisaged to be spread across 5.7 million square feet. This is the Authority’s third grand design in 10 years for Mohali’s City Centre. The City Centre was first planned in the late 1990s, using the services of Gujarat architectural firm Vaastushlipa. However that plan was shelved and replaced by a detailed one submitted by Singapore-based company Jurong. None of these two plans was laid down after much expenditure saw the light of the day.
It will not be difficult for GMADA to sell commercial, office and recreational space in Mohali’s City Centre, which will be connected to the airport Chandigarh through a metro.Each of the 1,400 units of office and commercial space would be sized differently depending on its use. The Use of these units be it restaurants, shops, cinemas, hotels, exhibition halls in each area would be defined. Almost 200,000 square feet of area has been kept aside for an amusement park within the mall areas. Average cost of floor space per square feet at Rs 10,000.
GMADA has decided to use 76 acres of land available in Sector 62 for the setting up of the mall. The ground coverage for the mall has been fixed at not more than 35 per cent (26 acres) while another 23 acres would be set aside for the plaza area. The open parking would cover another 26 acres.Other than the open parking area, basement parking under five levels of the mall complex.
Part of the Dream Weave Walk Network 1998-2012