Ascent Buildtech, part of Ascent Constructions, has announced a 600-apartment housing complex ‘Satya Ville de’ at NH-58 Raj Nagar Extention, Ghaziabad in Uttar Pradesh. The proposed project spreads across 5 acres and will home to around 30,000 square feet shopping complex — Satya Shoppe, informed a top company official.
Speaking to IndiaRetailing, Suresh Gogia, MD, Ascent Buildtech, said, “The commercial complex will spread over 30,000 square feet across three floors that will be around 5 per cent of the total space of the project. The project will be completed by November 2011.”
Elaborating the plan, he further said, “Satya Shoppe will have a mix of supermarket, food court, high end brands in apparel and other categories and an entertainment zone. The lower floor will be of food court, ground floor will house supermarket and leading brands, while the first floor will have entertainment zone for kids.”
When asked about the catchment of the area, he explained, “Satya Ville de will have 600 flats with around 3,000 people as resident. It is a good catchment for any retailer.”
Responding to the proposed supermarket for Satya Shoppe, Gogia elaborated, “We were earlier in talks with Big Bazaar. But the deal is not finalized and the company has restricted its expansion plan due to recession. Hope we will get the store here.”
The company is also in talks with leading F&B retailers including Pizza Hut, More Than Parathas and Chik N Fish for food court. “As we are at the initial phase of development, we planned to invite the retailers sometimes later when the project is in shape,” concluded Gogia.
— Sarimul Islam Choudhury