Delhi/NCR: Realty major Gaursons Group will invest Rs 1000 crores to develop the first shopping mall of Greater Noida West. The project which is estimated to be developed across 70,000 sq. mtr. (7.5 Lakh Sq. Ft. ) Will house one hyper market, one food court of 3251 Sq. Mtr. (35,000 Sq. Ft.) and a number of retail outlets along with a 9 screen multiplex.

After the grand success of Gaur Centra Mall located at Raj Nagar District Centre in Ghaziabad, this new venture by Gaursons Group will be part of the 25 acres of commercial developments located at Gaur City being brought up with an estimated cost of Rs 2000 Crores. Gaur City presently houses over 10,000 families and will serve as an immediate catchment area of these set ups.

Speaking about the prospects of this project and its impact on the region’s growth, Manoj Gaur, Vice President CREDAI – National & MD, Gaursons Group says, “Looking at the demographics and product mix at Greater Noida West region, a complete commercial development was always missing the space of which we are soon going to fulfil and offer a project that will host the right commercial product mix for the residents of the region.

The realty major has already tied up with major retail brands such as Shoppers Stop, Lifestyle, Pantaloons, Marks N Spencer, Fab India, Globus and many more which will be a part of a development which will cater to almost 30,000 families already residing in Greater Noida West and over 20,000 more who will be soon settling in.

Adding further, Gaur said, “This transaction has been made through a mix of internal accruals, project specific fundings and through collections from stakeholders as per stages of construction. Finally, as far as commercial real estate in India is concerned, it is already witnessing a boom in the market due to a high demand of office, retail and hospitality spaces and thus we are expecting the supply to overrun the demand.