Phoenix Mills (PML), owner, operator and developer of retail-led mixed-use destinations, has announced that Casper Realty, its wholly-owned subsidiary, has been declared as the highest bidder for two prime city-centric plots in Mohali, Punjab. These plots, with cumulative area of around 13.14 acres and located in Sector 62, YPS Chowk, Sahibzada Ajit Singh Nagar (Mohali), were auctioned by Greater Mohali Development Area Authority (GMADA). Casper's combined bid value was approx. Rs 891 crore.

Both plots are classified for commercial use and the company intends to develop an iconic retail-led, mixed-use development on this land parcel. This land parcel, situated at YPS Chowk—between Chandigarh and Sahibzada Ajit Singh Nagar (Mohali), is well-positioned to capitalise on the growing demand for retail and entertainment spaces in the Chandigarh Metropolitan Region (CMR).

CMR encompasses the union territory of Chandigarh and its neighbouring cities, including Panchkula, Mohali, Zirakpur, New Chandigarh, Kharar, Pinjore, Kalka, and Barwala. PML and its subsidiaries are further developing approx. four million sq. ft. of retail space across three new malls. The Group has delivered three residential projects across the country and currently has one project under development in Kolkata.