Mall in the fast lane

Mall shopping experience in Gurgaon will get more exclusive in future. A host of new specialised malls dedicated to gold, electrical goods and furniture are expected to come up within the next year.

Now, you can add automobile to that list. Touted as Asia's first auto mall, the Rs 1,500-crore real estate developer Senior Builders Ltd has earmarked Rs 250 crore to build a 5-lakh sq ft Senior Auto Mall in Gurgaon, complete with a 1,500-metre roof-top test driving track, a 10-floor show window, four car lifts and an event hall with a revolving platform for auto display.

"My idea is to get every car from a Maruti 800 to Mercedes to be displayed in the mall. It will be a one-stop shop where everything from car registration to loan processing, insurance to car accessories companies to a food court will be located," says Vijay Dixit, MD, Senior Builder Ltd.

To start with, Dixit expects to generate a daily billing of Rs 3-4 crore. "Our in-house study has shown that 300 cars are sold in Delhi everyday. Which means it generates an average billing of Rs 15 crore daily. We are keeping our target low initially."

The project, which will primarily address the automobile industry and expected to be completed within the next two year, has already received feelers from domestic firms as well as foreign companies set to enter India, including Ferrari and Volva.

"A dealer has also called up from Varanasi requesting to reserve space in the mall and a manufacturer has asked for an entire floor. Individual companies are also negotiating for show window space," says Dixit, adding that, "Our main aim, however, is to provide all services under one roof so that a customer doesn't have to waste time visiting different showrooms across the city."

With the proposed auto mall drawing positive response, Dixit has already identified land in Kolkata to set up a similar project and expects to explore other metros soon.

At a Rs 60-80 per sq feet as rental space and Rs 6,000-Rs 8,000 per sq ft for sale, Dixit claims it's good value for money when rental space in Pragati Maidan's Auto Expo climbs to Rs 2 lakh for a 50 sq ft area for five days.

Senior Builders' other projects are Senior Mall and Central Plaza in Gurgaon, Senior Mall in Noida, including a housing project for the J&K government and a 1,500-flat project in Dehradun.

The company will also develop the Rs 225-crore Senior Circuit City, a mall where every electrical consumer durable from airconditioners to home theatre systems will be displayed in a 3-lakh sq ft area.