The first phase of Phoenix Market City, Chennai, a joint development by Phoenix Mills Ltd and Sharyans Resources, was launched here.
The project, which includes a mall and a premium residential space, has come up with a total investment of around Rs 400 crore.
The second phase comprising a luxury mall and a luxury residential project is under planning.
The one million sft area in the shopping mall has a capacity for 275-300 shops. The mall already has around 150 shops leased out and the rest is expected to complete soon.
Meanwhile, the residential area, named as the Crest, with 150 premium house units, would be handed over to the customers in the next six months, said Vijay Choraria, managing director, Sharyans Resources.
The mall would also have a 11 screen multiplex operated by Sathyam Cinemas with a capacity of 2,450 seats.
