Unity, Parsvnath to develop mall in Delhi

11 Jan 2023 CW Team

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

Infrastructure Transport

16 Sep 2025

Metro Line 2B Phase 1 to Boost Realty in Mumbai’s Eastern Suburbs

Mumbai’s real estate sector is set for a major boost as Phase 1 of Metro Line 2B, between Mandale and Diamond Garden, nears completion. The Mumbai Metropolitan Region Development Authority (MMRDA) has confirmed that mandatory rectifications are done, and inspections by the Commissioner of Metro Railway Safety (CMRS) have been carried out. The 5.39-km stretch with five stations forms part of the larger DN Nagar–Mandale corridor, designed to ease congestion and improve east–west connectivity. Passenger operations are expected by December 2025, with the full line slated for 2027. ..

WattPower wins Best Inverter award at Global Solar Expo 2025

WattPower, a leading renewable energy solutions provider, has won the award for “Best Inverter in the Utility Segment” at the Global Solar Expo 2025. The recognition underscores the company’s commitment to delivering reliable, high-performance and future-ready solar solutions for large-scale projects. At the forefront of utility-scale solar, WattPower manufactures advanced string inverters that directly feed power into the Indian grid. With robust technology, high-quality components and comprehensive product lifecycle support, its solutions stand among the most sophisticated in the ..

Awfis delivers 67,000 sq. ft. innovation hub for eBay in Bengaluru

Awfis Space Solutions, India’s largest flexible workspace provider and the first publicly listed workspace solutions platform, has partnered with eBay to establish a 67,000 sq. ft. innovation hub at Embassy Tech Village, Bengaluru. The mandate covers design, build and management of the new office, which will act as a strategic hub supporting diverse functions and accelerating eBay’s AI-first commerce strategy. The centre will focus on artificial intelligence, engineering, product development and applied research, strengthening eBay’s growth in India. Embassy Tech Village, North Beng..