Country’s largest real estate developer DLF Ltd will develop eight shopping malls under leasing format in the metros this financial year.
DLF Retail only leases out space in its properties. Company would also open four shopping malls in current year, of which three would be in Delhi NCR and one in Chandigarh.
Chandigarh mall will be smaller one, while the three malls in the Capital will have three-to-four lakh square feet leasable area per mall.
Leaving the price of the land, the construction cost is around Rs 3,000-4,000 per square feet.
DLF is focusing primarily is on the metro cities like Bangalore, Chennai, Hyderabad and Delhi. DLF will also look at smaller cities in future. DLF is in discussion with many big retailers, but nothing has been finalized yet. DLF Retail currently has five operational malls.