Parsvnath and Unity Group Launch New Mall in Delhi, Expected to Generate ₹120 Crore Yearly Rent
Parsvnath Developers and Unity Group have launched a new shopping mall in Delhi, 'Unity One Elegante', which is expected to generate an annual rental income of ₹120 crore. The mall, located at Netaji Subhash Place, is fully leased and showcases the growing demand for quality retail space in the Delhi-NCR region.
Real EstateRetail SpaceDelhincrShopping MallAnnual Rental IncomeReal EstateNov 02, 2025
In 2023, Parsvnath and Unity Group formed an equal joint venture to develop the mall, which boasts 5 lakh square feet of leasable area. According to Harsh Bansal, Director of Unity Group, the mall has achieved 100% retail space leasing, ensuring a steady stream of income.
When asked about the rental income, Bansal stated that the mall is expected to generate around ₹10 crore per month, translating to ₹120 crore annually. However, the joint venture firm will have to pay nearly ₹20 crore as lease rental to the Delhi Metro Rail Corporation (DMRC).
Pradeep Jain, Chairman of Parsvnath Developers, highlighted the significant demand for quality retail space across the Delhi-NCR market. This demand is driving the development and success of such projects.
In a regulatory filing last month, Parsvnath mentioned that a special purpose vehicle, 'Unity Parsvnaths LLP', a joint venture with Unity Group, was responsible for developing the mall. The shopping mall covers an area of 28,400 square meters.
According to Cushman & Wakefield, the leasing of retail spaces in shopping malls and prominent high streets increased by 45% in the July-September quarter, reaching 2.41 million sq ft across eight major cities. This growth is attributed to better demand for retailers and fresh supply.
Unity Group currently operates six malls in Delhi and Mohali, with a combined area of around 2 million sq ft. Three of these malls are developed in partnership. Parsvnath Group, on the other hand, has a significant presence in over 37 major cities across 13 states, having developed numerous housing and commercial projects.
The launch of 'Unity One Elegante' marks a significant milestone for both Parsvnath Developers and Unity Group, showcasing their commitment to meeting the growing retail needs of the Delhi-NCR region.
Frequently Asked Questions
What is the name of the new mall launched by Parsvnath and Unity Group in Delhi?
The new mall is named 'Unity One Elegante' and is located at Netaji Subhash Place in Delhi.
What is the expected annual rental income from the new mall?
The expected annual rental income from 'Unity One Elegante' is ₹120 crore.
When did the mall open to the public?
The mall opened to the public last month, as mentioned in the article.
How much of the retail space in the mall is leased?
100% of the retail space in the mall is leased.
How many operational malls does Unity Group have in Delhi and Mohali?
Unity Group has six operational malls in Delhi and Mohali, with a combined area of around 2 million sq ft.
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