L&T ropes in internationl brands in its Rs 1800 crore Chandigarh mall

CHANDIGARH: L& T Realty, unlisted firm of Larsen & Toubro Group, has roped in 50 fashion brands new to Chandigarh in its first mall in the city. The company has invested around 1,750 crore to build commercial space project including a mega mall spread over 1.15 million sq ft, 4-lakh square feet of office space and Hyatt Regency hotel.

“It is largest mall of the region and will lure many from neighbouring states who end up shopping in Delhi due to lack of world class brands,” chief executive, L& T Realty, Shrikant Joshi said. The company has roped in around 200 fashion brands including array of international fashion brands like Swarovski, Charles and Keith, Gant, Guess, Bebe, Hamleys Toys, Mango, Gas etc.

The project that is largest project in commercial space cateogry by any private developer is spread over 20 acres in Chandigarh, a city with little vacant land. The mega mall includes park space for around 5,800 cars, highest in the country, Joshi claimed. “We have kept in mind that fact that the city has almost six lakh vehicles almost half of its population,” he said.

Closed shutters dot many of the multiplexes in the city that have been affected by slowdown and spurt in multiplex projects in Chandigarh Panchkula and Mohali. “We have leased out almost entire retail space of 1.15 million sq feet,” Joshi said. The company also claimed to have tied up for almost 30-40 per cent of the office space.

“The mall will have huge impact on retail scenario of the city, says COO of the mall, Awadh Vashishta said. Along with international brands, several mid prices brands like Shopper Stop, Lifestyle, Westside, Marks’ and Spencer’s, Pantaloons are soon opening at the mall.

The project includes 8 screen by PVR and a luxury hotel by Hyatt Regency hotel,” he said.