Marg Junction mall, developed by Chennai-based company, Marg Limited will become operational in 2013. The mixed- use development comprises 12,00,000 sq.ft. of retail space, 4-star hotel spread across 5,17,000 sq.ft., and service apartment spread across 1,06,000 sq.ft.
Talking about the catchment profile, Jawahar Singh, VP, Real Estate- Retail and Commercial, Marg Group said: “Chennai is a metropolis with a huge growth potential. Marg Junction is located on the banks of a perennial water body on OMR which will give eco- friendly entertainment and the waterfront will create a picnic spot. There will be three-side road access which will make for an easy entry and exit of vehicles and human traffic.”
Singh further said that Marg Junction will have access to primary catchment of 5,00,000 people, secondary catchment of 2,00,000 people and floating population of 2,00,000 people who are employed in the IT/BPO companies on the ‘IT Corridor of Chennai’- OMR.
The mall is touted to have the largest atrium space in Chennai with 24,000 sq. ft. The food court will spread over 40,000 sq.ft. with 16 counters and a seating capacity of 900 people. The nine- screen multiplex will have 1850 seats. Principal architecture of the mall has been taken care by Neo Modern Architects, Mumbai while Cheralathan Associates, Chennai has been appointed as the local architect. Lifts and elevators have been provided by Mitsubishi, interiors by CMR Progetto of Italy and Studio 7 while Master Plan is taking care of landscaping. There are four levels of shopping and five levels of F&B/ entertainment in the mall. Almost 32 percent of the leasable area is occupied by the anchors, 26 percent by mini-anchors and 42 percent by vanillas.
There are two entries and exits point and three basements, multi-level car parking and surface parking spread across 5,00,000 sq.ft. with a four-wheeler and two-wheeler parking capacity of 1,300 and 1,800 respectively.
Around 60 percent of the mall has already been leased out to brands such as Levis, Wranglers, Woodland, Canon, Puma, and W. PVR has been signed for the multiplex while Shopper Stop and Hypercity have been signed as anchor stores. Letter of Intent has been received from Time Zone for the FEC space, and Blu-O for a high-end bowling alley.
Marg Junction is already expecting average footfalls of 30,000 per day and revenue of Rs. 80-85 crore per annum.