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Parsavnath mall in CP to command rental of Rs 1000 per sq ft.
Posted On: 03-05-2008 08:40:45 AM

Parsvnath has paid 2 billion rupees to acquire a 5,735-square-yard plot near Connaught Place in New Delhi where the company will build a luxury mall and a high-end office complex. About 40 percent area will be reserved for retail and another 50 percent for office space. The space will be leased out at lease rentals of around Rs 1,000 per sq ft for retail space and 500 rupees a sq ft for office space.
According to property consultants Cushman & Wakefield, retail rentals in the Connaught Place area average around Rs 775 per sq foot a month. Office rentals in the area are currently around 335 rupees a sq foot a month, but are seen going up.

 
 
 

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