Migsun Group to develop retail high street project in Delhi’s Rohini

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    Realty firm Migsun Group is set to invest Rs 700 crore to transform a 9-acre land parcel in Delhi’s Rohini area into a retail high street project.

    According to recent reports, Migsun Group acquired a 36,583 sq metre land parcel on which it plans to develop a 6.3-acre built-up area on the site.  The land parcel has been bought for Rs 265 crore. A further Rs 441 crore is planned to be spent on the development of the project.

    The project is expected to be completed within three years at a total cost of Rs 706 crore. Migsun Group may also purchase additional Floor Area Ratio (FAR) to meet future demands.

    Yash Miglani, the managing director of Migsun Group, stated that this land acquisition will enhance the company’s presence in North Delhi, and Rohini’s growing commercial real estate market presents a lucrative opportunity to provide customers with a high-street retail experience.

    Miglani said that in the first phase, the Group will develop one million square feet of high street retail market, while the company might also purchase an additional Floor Area Ratio (FAR) to meet future demands under Master Plan 2041, which has recently been approved. In the second phase, if additional FAR is purchased, another one million sq ft will be developed in the form of business suites, he said.

    The company is known for developing affordable housing, premium, and commercial projects in Delhi, Ghaziabad, Noida and Greater Noida. It has delivered more than 40 projects in Delhi-NCR and developed more than 20 million sq ft of land in different pockets of the territory.

    Most of its commercial projects are in Ghaziabad and Greater Noida. The company has also expanded its base and launched retail and residential projects in tier-2 cities.

    The firm also has presence in Lucknow where it acquired 26 acres of land for Rs 220 crore to develop a residential and retail project at a cost of Rs 2,000 crore.

    It also acquired real estate developer Ansal’s stake in Ansal IT City Park (SEZ) Tech Zone, and later bought HDFC’s 37 per cent stake in the zone for about Rs 50 crore, to take full control of the SEZ.

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