Real Estate

Satra Properties India Ltd has signed a deed of assignment for a prime retail property in Jodhpur, Rajasthan. The company, which develops commercial, retail, hotel and residential properties, intends to build a state-of-the-art shopping mall and entertainment complex on the 1.21 lakh sq. ft land.
Dreams the mall, as it is called, will boast a 200 sq. ft frontage on Nayi Sarak Road, the main shopping street in Jodhpur, and will have an anchor store, food courts, restaurants, a four-screen multiplex, and an 80-car basement parking area. The project is expected to generate revenue of Rs 133.78 crore. Construction work is under way and is expected to complete within 18 to 20 months i.e. June 2009.
The company operates directly or through a subsidiary company or through project-specific companies formed to execute the projects. It also undertakes development projects through joint development agreements with third parties. The company is also involved in the purchase and sale of TDRs (transfer of development rights) which are freely transferable between developers. The company plans to raise over Rs 700 crore for project development in 2008.
Contact: Satra Properties India Ltd (Satra Group), Dev Plaza, S.V. Road, Near Shopper's Stop, Andheri (W), Mumbai, Maharashtra 400058. Tel: 022-26719999; Fax: 022-26203999; E-mail: info@ satraproperties. com