Elpro International’s real estate arm Elpro Estates has planed to develop a seven-and-a-half-lakh square feet mall in Pune. The mall will be called Elpro Mall and is slated to be operational by the first quarter of 2009.
The company plans to invest around Rs 300 crore in developing the mall and a housing project at the same venue. “We will be investing around Rs 300 crore for the two projects. A part of the investment will be through internal accruals and a part through debt,” a company spokesperson informed.
About the tenants, the spokesperson said, “We will have a hypermarket of around 150,000 square feet as an anchor store, which will have more than 50 brands, in addition to a multiplex and a food court.”