Trident Group acquires Shipra Mall in Ghaziabad for Rs 551 crore
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Trident Group, which is developing various projects in Delhi-NCR, Mumbai and Tri City (Panchkula), forayed into the retail real estate segment by acquiring Shipra Mall in Indirapuram, Ghaziabad. The size of this mall is 4.5 lakh sq.ft.
Real estate developer Trident Group has acquired Shipra Mall in Ghaziabad for Rs 551 crore through an auction process. Group’s Chief Executive Officer (CEO) Parvinder Singh gave this information on Friday. Trident Group, which is developing various projects in Delhi-NCR, Mumbai and Tri City (Panchkula), forayed into the retail real estate segment by acquiring Shipra Mall in Indirapuram, Ghaziabad. The size of this mall is 4.5 lakh sq.ft.
Singh told PTI, “We have acquired Shipra Mall for Rs 551 crore through an auction process under the SARFAESI (Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interest) Act. The auction was conducted on behalf of Shipra Mall’s lenders Indiabulls Housing Finance and Edelweiss Asset Reconstruction Company. The property has been registered and the company has paid stamp duty and registration charges of Rs 44 crore on the deal, he said. Singh said that once 100 per cent area of the mall is leased out, it is likely to fetch an annual rent of around Rs 60 crore.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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