Noida Great India Place Mall is going to be sold know why such situation has come know the details

Noida Great India Place Mall is going to be sold know why such situation has come know the details

New Delhi: GIP i.e. The Great India Place is now ready for sale. This mall is going to sell. It was once said to be the largest mall in the country. A large number of people come here for shopping and walking. This mall also includes amusement parks with wonders. The Great India Place was developed by Appu Ghar Group and The Unitech Group. It is maintained by Entertainment City Limited. It is located in Sector 38-A, next to Noida Sector 18 metro station.

Preparing to sell all 147 acres of development
According to news published in ET, developers Entertainment City Ltd., The Great India Place in Noida, Gardens Galleria Mall, Worlds of Wonder Amusement Park and Run Kidzania. Now preparing to sell the entire 147 acre development. Negotiations are underway to sell it for around Rs 2,000 crore. The new buyer can develop the vacant land here later. There are currently approximately 1.7 million square feet of area available for development. Any buyer who buys it can use this vacant land to build a residential or commercial building. According to experts, this place is one of the main places of NCR.

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The money will be used to repay the loan
Experts say the Punjab National Bank currently has a loan of around Rs 800 crore on the mall. Currently 85% of the mall is full. The money that comes after the sale will be used to pay off this debt.

was completed in 2007
GIP Mall was completed in 2007. That was when it was called the largest mall in the country. This mall became very popular after its establishment. A lot of people came here for shopping. There were many business stores here. But from the year 2016 the picture has completely changed. This year, DLF Mall of India was launched just ahead of GIP. Since then, the popularity of the GIP has declined. The showrooms of many companies have also moved away from here. The shopping center emptied. Even during the Corona period, the showrooms of many brand companies moved from here.

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promoter now do not want leads the
According to the news, experts say the mall and amusement park are working well now. A large number of people still come here for walks and shopping. It is not a property that operates at a loss. But now the promoters no longer want to exploit it. The promoters are now considering selling it. For this, he constantly talks about it.

crowd slowly diminishing
When the GIP was launched, there was a huge crowd of people. But gradually, the crowds began to dwindle there. Since the Corona period, many brand showrooms in the mall have also closed in the mall.

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Indian Lekhak

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