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    Rs 500 crore mall in Chennai

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    Chennai-based of companies has planned to make 25 acre shopping mall outside Chennai. The company has lined up Rs 500 crore for the project.

    The company’s founder told media about the up-coming project, which is planned to execute in collaboration with a foreign partner. He confirmed that land has already been acquired and also discussed investment plans. However, he refused to reveal the exact location of the mall.

    Periasamy said: “The project would be executed by a separate company with overseas partners. The land for the project has been identified, but we do not want to disclose the location.”

    “The mall would be unique, looking more like US-based retail outfits, flat rather than multi-storeyed. “It will be a western style indoor mall with enormous parking facility. It will be a spot for family outings and will be a town by itself.”

    The project is expected to be completed in three years.