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Mindstone Mall Developers acquire 7.48 acre land in Kolkata

Thursday, 11 Feb 2021
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Mindstone Mall Developers, a wholly-owned subsidiary of Phoenix Mills (PML), has acquired approximately 7.48 acre of prime land in Alipore, Kolkata, West Bengal, for a total consideration of Rs 300 crore.

The company is looking to expand its portfolio in Tier-1 cities. The greenfield development opportunity in Kolkata is the first such addition to the company’s portfolio in 2021 and will add to its operational developments beyond 2024.

The land parcel has development potential of approximately one million sq ft with Phase-I of the development expected to be operational during FY25, subject to local and municipal approvals.

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