PVR Inox Leases 43,500 Sq Ft at Sky City Mall, Borivali

26 Aug 2025 CW Team

PVR Inox Ltd has leased 43,534 sq ft of retail space in Sky City Mall, Borivali, from Oberoi Realty for a 15-year term, according to property registration documents accessed by CRE Matrix.

The agreement, registered on 9 July 2025, stipulates a monthly rent of Rs 9.14 million or 20 per cent revenue share biannually, whichever is higher. PVR Inox has paid a security deposit of Rs 109.7 million, with a 15 per cent top-up every 36 months. The transaction carries a five-year lock-in period and a 15 per cent rent escalation clause every three years. Although the company received fit-out access in March 2024, rent commencement is effective from 30 July 2025.

The announcement coincided with the launch of a new 10-screen megaplex in Mumbai on 22 August. Spread across 43,500 sq ft, the megaplex has a total seating capacity of 1,372, with foyers, lounges, and uniquely designed auditoriums. Managing Director Ajay Bijli described the launch as a “design-forward destination where technology, luxury, and youthful energy converge to create immersive storytelling spaces.”

Sky City Mall, Oberoi Realty’s second mall in Mumbai after Oberoi Mall in Goregaon East, opened in March 2025. The Borivali development forms part of the 25-acre Sky City mixed-use project by Incline Realty Pvt Ltd, with a gross leasable area of 1.21 million sq ft.

PVR Inox’s lease follows other big-ticket transactions in the area. In May 2025, Apple India leased 12,616 sq ft of retail space in Borivali for Rs 1.74 million monthly rent, with a revenue-sharing clause and a lock-in period of nearly 11 years.

The deals highlight Borivali’s rising prominence as a retail and entertainment hub, strengthening Oberoi Realty’s position in Mumbai’s commercial real estate market.

Infrastructure Urban

08 Oct 2025

Rajasthan Adds 135 New Buses To Strengthen Public Transport

Rajasthan Chief Minister Bhajan Lal Sharma on Sunday flagged off a new fleet of Rajasthan Roadways buses from Amar Jawan Jyoti, marking a significant step towards modernising the state’s public transport network. The Chief Minister inaugurated 128 Blue Line buses and seven rural buses, designed to enhance connectivity and improve travel comfort across the state.The event was attended by Deputy Chief Minister Dr Premchand Bairwa and Member of Parliament Manju Sharma. The new fleet complies with the latest emission standards and incorporates modern technology to ensure efficiency and environme..

Patna Joins India’s Metro Map With Blue Line Launch

Patna, the capital of Bihar, officially joined India’s growing list of metro cities as Chief Minister Nitish Kumar inaugurated the first phase of the Patna Metro Rail on Monday. The inaugural section of the Blue Line runs from the Inter-State Bus Terminal (ISBT) to Bhoothnath, covering three key stations — Patliputra ISBT, Zero Mile, and Bhoothnath.The inaugural ceremony was held at the Patliputra Bus Depot, attended by Deputy Chief Ministers Samrat Choudhary and Vijay Kumar Sinha. Passenger services are set to commence from Tuesday.For now, commuters will be able to travel along a 4.3-kil..

Kochi Water Metro To Launch Mattancherry Route By Mid-October

The Kochi Water Metro is set to commence ferry operations between the city and Mattancherry by mid-October, offering much-needed relief to commuters long troubled by traffic bottlenecks along narrow city roads and bridges.The new route, extending from the High Court terminal, follows Kochi Water Metro Limited (KWML)’s preparation to commission the long-awaited ferry terminals at Mattancherry and Willingdon Island, both key nodes in the city’s water transport network.According to KWML Chief Operating Officer Sajan John, the Mattancherry terminal will feature floating pontoons capable of ber..