JMD to open Rs 100-cr mall in Punjab

So long described as the Manchester of India, Ludhiana might soon be called as the city of malls. New Delhi-based JMD Promoters Ltd has forayed into the Punjab real estate market with its first project in Punjab called the Govardhan City Centre.

This multiplex-cum-mall will come up opposite the railway station and more than Rs 100 crore will be spent on this project.

The construction of the Centre has started and it will come up within a year.

JMD Promoters will also be making corporate offices and housing complex in Ludhiana. For all its projects in Ludhiana, the company plans to invest a total of more than Rs 200 crore. Few other companies like MBD, Silver Oak, Aeren R, Omaxe are also venturing into the Rs 3,000 crore Punjab real estate market.

The Govardhan City Centre will come up a 2-acre plot and the total constructed area will be 250,000 square feet.

Speaking to Business Standard, Rameet Trehan, vice-president (Marketing and Business Development) said that instead of leasing or renting out the retail outlets to different brands, the company plans to give entire floor area to large stores.

"The Govardhan City Centre will have five floors, each floor having 40,000 sq ft of floor space. We are already negotiating with large format stores like planet retails, Nike and many more. A four-screen multiplex will be situated on the fourth and fifth floor and we have signed with a company called M2K for this purpose. On third floor, we will have the food court, entertainment zone for kids and leisure zone. MD Promoters Ltd will soon scheme out with its comprehensive developmental solutions to give a ravishing start to the state of Punjab; while invading its cities like Chandigarh, Amritsar, Mohali and Zirakpur with its redefined UEP (Unique Emotional Proposition) concept rather than the prototype USP (Unique Selling proposition) as tantamount to the striding mall culture of today. While abridging the distance with the western cultures, the Group has made an enormous effort to welcome aboard the exclusive brands that land in the cities boundaries. We strive to give shoppers a pleasurable experience by creating a distinct ambiance in the complex, the exclusive art work of the aspirant builders, is soaring high to offer a blend of convenience, luxury with a touch of aesthetic surroundings whilst catering to all the segments viz. upper, lower and the middle income levels,'' told Rameet.

JMD Promoters Ltd further plans for setting up lavish Corporate Hubs & a well premeditated housing society in Ludhiana.

``The corporate hub will come up opposite the Satguru Partap Singh Apollo Hospital on the GT Road in a 3 acre plot. Its construction will start by the end of June this year and will be ready in another 18 months time. Rs 100 crore will be spent on it. We have already marked some sites like near South City, Chandigarh Road and Ferozepur for our housing society. The main site will be decided soon and work on it will also start.''