Elante Mall

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Elante Mall ( Nexus Malls )
Main entrance of the Mall
Map
LocationChandigarh, India
Address178, Industrial Area, Phase 1
Opening dateApril 2013
DeveloperL&T Realty
OwnerNexus Malls
Total retail floor area1,150,000 sq ft (107,000 m2)
No. of floors4 + 1 basement level, of retail area
ParkingMultilevel

Elante Mall ( Nexus Malls ) is a shopping mall in the city of Chandigarh in India. With the gross leasable area of 1,000,000 sq ft (93,000 m2), it is the ten largest shopping mall in Northern India and the seventh largest in India.[1][2] Elante is spread over an area of 20 acres. It is part of a mixed use real estate development project by Larsen & Toubro called Elante.[3]

Features

Offices Building of Elante Mall

Elante Mall has a retail space area of over 1 million square feet. It has 2 main gates, one is on the big front entry and another one is on the back. It has 3 basement levels, a ground level and three upper levels. In the retail area, Elante Mall hosts retailers of various Indian and international brands, a food court and a courtyard full of cafes. The Mall has an 8-screen Multiplex of PVR Cinemas. On its top floor, the mall has restaurants, fast food joints and a Fun City for kids entertainment.

In 2013, the mall was found to be burning 6000 litres of diesel daily due to a lack of electricity connection to the grid. The mall requires a 15MW power supply.[4]

Acquisition deals

In September 2015, Mumbai-based Carnival Group bought Elante Mall, at a price of Rs 1,785 crore (more than US$ 274 million) making it one of the biggest deal for a single real estate or property in India at the time.[5]

On 28 July 2017, Nexus Malls, a subsidiary of US-based global investment firm The Blackstone Group bought Elante Mall for an undisclosed amount.[6] This is the second time Elante Mall is sold in two years. Experts consider this as a top league deal which has been made in real estate history in India.

See also

References

  1. ^ "Archived copy". Archived from the original on 17 November 2015. Retrieved 20 August 2015.{{cite web}}: CS1 maint: archived copy as title (link)
  2. ^ "Chandigarh gets its largest mall Elante".
  3. ^ "Archived copy". Archived from the original on 21 September 2015. Retrieved 20 August 2015.{{cite web}}: CS1 maint: archived copy as title (link)
  4. ^ "Elante mall spends Rs 3 lakh daily to light up its premises". 7 April 2013. Retrieved 9 February 2017.
  5. ^ http://www.dnaindia.com/money/report-mumbai-s-carnival-group-buys-lt-s-chandigarh-mall-for-a-whopping-rs-1785-crore-2130861
  6. ^ http://www.tribuneindia.com/news/chandigarh/blackstone-group-backed-nexus-malls-buys-chandigarh-s-elante-mall/443023.html

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