Business Update19 Sept 2024, 11:57 pm
Phoenix Mills Subsidiary Wins Bid for Prime Commercial Plots in Mohali, Punjab
AI Summary
Casper Realty Private Limited, a wholly owned subsidiary of The Phoenix Mills Limited, has been declared as the highest bidder for two prime city-centric plots in Mohali, Punjab, with a combined bid value of approximately Rs. 891 crores. The plots, admeasuring ~13.14 acres, are strategically located at YPS Chowk, between Chandigarh and Mohali, and are classified for commercial use. The company plans to develop an iconic retail-led, mixed-use development on this land parcel, aiming to capitalize on the growing demand for retail and entertainment spaces in the Chandigarh Metropolitan Region (CMR).
Key Highlights
- Casper Realty Private Limited wins bid for two prime commercial plots in Mohali, Punjab.
- Combined bid value of approximately Rs. 891 crores.
- Plots classified for commercial use and strategically located at YPS Chowk.
- Company plans to develop an iconic retail-led, mixed-use development on the land parcel.
- Aiming to capitalize on the growing demand for retail and entertainment spaces in the Chandigarh Metropolitan Region.