Marg to set up mall in Tirupati
A Business Correspondent
Chennai-based Marg Constructions Ltd is planning to set up a
mall in the temple town of Tirupati in Andhra Pradesh. "The project will be the
first of its kind in India," said M. Venkateswaralu, Project Head at the
company. About two crore pilgrims visit Tirupati every year. "The area of the
mall will be above four lakh sq. ft. We are planning beautiful landscapes and
children's game area in the park," he continued, adding his company wants to
target impulsive consumers. The revenue model will be lease-driven.
The project head further added, "We have acquired land for the project. Most of
it belongs to Marg Group and the rest we purchased. At present, we have
approached architecture firms for the plan and have shortlisted architects.
Looking at feasibility, we will appoint an architect."
The company is planning to enter into affordable housing across the south where
it has identified some semi-rural places. Recently, the company, along with
Chennai-based Great Lakes Institute of Management, launched the Centre of
Excellence for Infrastructure. The company is looking at investing nearly Rs 3
crore on setting up the centre in Chennai. The centre will study in depth the
infrastructure domain in India and abroad. Housed in a 20,000 sq. ft
state-of-the-art facility, it will soon emerge as a global resource centre for
excellence in infrastructure.
The company has also forged an alliance with a leading Malaysian entity,
Pembinaan Redza, to explore cooperation on a variety of areas for the Karaikal
Contact: Marg Constructions Ltd, 'Marg Axis', 4/318, Rajiv andhi Salai,
Kottivakkam, Chennai, Tamil Nadu 044-24541111 (9 lines); Fax: 044-24541123;
[January 14-20, 2008]