Mindstone Mall Developers, a wholly-owned subsidiary of mixed-use asset developer and operator The Phoenix Mills, has acquired approximately a 7.48 acre land parcel in Kolkata for Rs.3 bn. The land, strategically located on Diamond Harbour Road in Alipore and has development potential of approximately 1 mn sq ft. The first phase of the development is expected to be operational during FY25, subject to necessary approvals. The land belonged to Linde India and once housed the company's packaged gases factory. This is part of The Phoenix Mills’ strategy of expanding in Tier-1 cities. Alipore is considered a prime location in Kolkata, with various high-end residential projects.Contact: The Phoenix Mills.Tel: 022-3001 6600.E-mail: info@marketcity.inWebsite: www.thephoenixmills.com