+
Unity, Parsvnath to develop mall in Delhi
Real Estate

Unity, Parsvnath to develop mall in Delhi

Unity Group, based in Delhi, has inked a joint development agreement with Parsvnath Developers to create 450,000 square feet of retail space with a Rs 2 billion investment, according to Unity Group co-founder Harsh V Bansal. The bridge-to-luxury mall is near the Netaji Subhash Place metro station and is on land leased from Delhi Metro.

The agreement is part of the company's goal to double its retail portfolio and establish a retail REIT.

"This mall should become operational by October 2023, and we are already in touch with brands for leasing. We are expecting Rs 1 billion in rental income every year," Bansal said.

In addition, the company has planned mall developments in Preet Vihar, Mangolpuri, Rohini, and Punjabi Bagh in Delhi, and Mohali in Punjab. It is also in the process of expanding all its six operational malls as part of the extra floor area ratio allowed by the Delhi Development Authority (DDA). "In Preet Vihar, we are developing 150,000 sq ft, while we have acquired two land parcels in Mangolpuri and Rohini from DDA for Rs 630 million. We will invest another Rs 2 billion to develop 300,000 sq ft of retail space," said Bansal.

According to an analysis by Cushman & Wakefield, India's top three cities will need 9 million sq ft of retail space every year till 2027 to reach the level of organised retail area available in a country to match the cities of a small country like Vietnam's retail space per capita.

Also Read
Supreme Universal signs agreement to build a 5-acre plot in Chembur
PE investments in Indian real estate reached USD 3.4 billion

Unity Group, based in Delhi, has inked a joint development agreement with Parsvnath Developers to create 450,000 square feet of retail space with a Rs 2 billion investment, according to Unity Group co-founder Harsh V Bansal. The bridge-to-luxury mall is near the Netaji Subhash Place metro station and is on land leased from Delhi Metro. The agreement is part of the company's goal to double its retail portfolio and establish a retail REIT. This mall should become operational by October 2023, and we are already in touch with brands for leasing. We are expecting Rs 1 billion in rental income every year, Bansal said. In addition, the company has planned mall developments in Preet Vihar, Mangolpuri, Rohini, and Punjabi Bagh in Delhi, and Mohali in Punjab. It is also in the process of expanding all its six operational malls as part of the extra floor area ratio allowed by the Delhi Development Authority (DDA). In Preet Vihar, we are developing 150,000 sq ft, while we have acquired two land parcels in Mangolpuri and Rohini from DDA for Rs 630 million. We will invest another Rs 2 billion to develop 300,000 sq ft of retail space, said Bansal. According to an analysis by Cushman & Wakefield, India's top three cities will need 9 million sq ft of retail space every year till 2027 to reach the level of organised retail area available in a country to match the cities of a small country like Vietnam's retail space per capita. Also Read Supreme Universal signs agreement to build a 5-acre plot in Chembur PE investments in Indian real estate reached USD 3.4 billion

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code