Opening in July at IGI: Delhi's most expensive mall

New Delhi: You will soon be flying in and out of one of Delhi's biggest and most expensive mall. Confused? The glitzy domestic-cum-international terminal (T3) that opens from July will have a retail area larger than most malls. And, the rentals here are the highest in NCR.
Some of the world's biggest names have booked space here. Apart from top Indian brands, eateries and service providers, global biggies like Versace, WH Smith, Swarovski and HagenDaz are setting shop at T3. That's not all. The international side of the terminal will have the biggest duty-free area among all airports in India.
In terms of size, most malls will pale in comparison to the retail area of T3, which incidentally will also house a 100-room hotel. The terminal is going to boast of India's biggest airport retail area spread over 30,000 square metres. An average three to four storey mall has a retail space of 20-25,000 square metres. The shopping area of T3 will have 247 retail units.
Also, monthly rental being charged from retailers is an average Rs 400 per square feet, making it the costliest mall space in NCR. In comparison, monthly rentals in Gurgaon and Noida malls are about Rs 150 to Rs 200 per square feet and only the poshest south Delhi malls in Saket match up to T3's charges.
The high price did not prove to be a deterrent for retailers from queuing up here to open shop. Almost 9,900 parties applied for the 247 units of which 2,133 were evaluated before being selected. All but two of the shopping units have already been grabbed.
05/02/10 Saurabh Sinha/Times of India

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Categories: Airports Feb 2010