Alpha G:Corp plans Rs 400-cr retail centre in Amritsar

Delhi-based real estate developer Alpha G:Corp is making its debut in the Punjab retail scene with its proposed Rs 350-400 crore mega project in Amritsar, with the total finished development spread over 2 million sq feet.

In the first phase Rs 270 crore will be invested in the AlphaOne Mega Project.

The destination centre, spread over 25 acres on GT Road, will be the largest city centre development encompassing retail, entertainment, luxury hotel and stand-alone boutiques.

The Ananda group of hotels with its 200-room luxury boutique hotel under the brand name 'Ista' would alone entail an investment of over Rs 100 crore.

Alpha G:Corp has signed-up a joint venture with landowners in Punjab to conceptualise, design and develop the project.

With the construction work to start in August 2006 the first phase would be operational by March 2008 according to company officials Designed with a large, open atrium, the mega-project would comprise of shopping mall, super-market, restaurants, recreational facilities, multiplex and space for cultural activities of global standards.

S K Sayal, CEO, Alpha G:Corp, said with the easing of Indo-Pak relations there has been a boom for the real estate market in Amritsar.

"Developers are anticipating the borders opening and for the customer-base to increase which would include visitors from across the border up to Lahore," he said while adding that the SEZ planned by the state through private-public partnership is also a large motivating factor.

Addressing the need of parking facility the developers have ensured that over 1000 cars parking would be available where shoppers can park on the surface car-park and travel on the travellater into the super-market.

"This is only one of the innovations as this unique mall model will also entail commodity-specific areas clearly earmarked for different industries and retail segments," said Sayal.