7.48 Acres Land Acquired By Mindstone In Kolkata
The wholly-owned subsidiary of Phoenix Mills (PML), Mindstone Mall Developers has acquired approximately 7.48 acres of prime land in Alipore, Kolkata. The consideration amount for the land is Rs 300 crore. The land parcel has a development potential of approximately one million sq ft. The land acquisition comes as the company is looking to expand its portfolio in Tier-1 cities.
Subject to local and municipal approvals the Phase-1 of the development is expected to be operational during FY25.