Real estate developer Lodha Group announced what it called ‘India’s largest mall’, spread over 20 acres in Palava, a smart city being developed near Dombivili, Maharashtra.
The developer said the mall would be a ‘game changer’, not just for Mumbai, for the entire region, and will address hitherto unmet needs of Mumbaikars.
“The development, comprising a mix of a conventional mall and an amusement park, will be created on the lines of international standards,” Lodha said.
It will be part of Palava, billed as India’s first greenfield smart city, on the outskirts of Mumbai.
Palava City is one of the largest real estate projects in India, and is spread of 4,500 acres. When fully occupied, it is expected to be home to 1 lakh residents.
Lodha said the new mall is being designed keeping in mind the need of retailers and partners that is not being addressed in the existing malls across Mumbai.
“It will include new formats of shopping, entertainment and food across domestic and International retailers, with new elements like a children’s museum, outdoor adventure facilities, water sports in the lake, food streets, etc.,” it said.
The company did not disclose by when it plans to have the mall operational. It, however, said the other mall at Palava, Xperia, is “95% operational”.
Shaishav Dharia, regional CEO for Lodha Group, said it will cater to the “new age urban dweller who aspires a quality life for the family without missing on any delights”.
“We are hopeful that India’s largest mall will be a game changer not just for Palava but for the entire region,” he added.
India does not see many new malls being launched in recent days due to a shift in consumption patterns away from brick-and-mortar stores to online shops.
However, malls continue to rank very high as the preferred weekend destination for city-dwellers in India.