Mahagun Real Estate has received environment clearance for constructing a commercial complex in Greater Noida, Uttar Pradesh, at a cost of Rs 408 crore.
The proposed Mahagun Mall will be developed on 18,694 sq meter plot, which has been allotted by the Greater Noida Industrial Development Authority to the company.
The proposal was first examined by an expert panel and based on its recommendation, the union environment ministry has given the final environment clearance (EC).
The EC has been given subject to compliance of certain conditions, the ministry said in the EC letter issued to the company. News agency PTI has reviewed a copy of the letter.
Any appeal against the EC will lie with the National Green Tribunal within a period of 30 days, it added.
As per the proposal, the mall will have 155 shops, 16 auditoriums, 13 restaurants, two family entertainment centres and other facilities.
The construction of the mall will not only provide better shopping environment but will also increase the livelihood of people in the area, the company said.