Parsvnath and Unity Group Unveil 'Unity One Elegante' Mall in Delhi, Targeting Rs 120 Crore Annual Rental Income
Parsvnath Developers and Unity Group have launched 'Unity One Elegante', a 5 lakh square feet mall in Delhi, aiming to generate Rs 120 crore in annual rental income. The project, a 50-50 joint venture, has achieved 100% occupancy and is expected to boost the commercial real estate sector in the National Capital Region.
Real EstateRetail MallParsvnath DevelopersUnity GroupDelhiReal EstateNov 03, 2025
The mall offers 5 lakh square feet of leasable area and is expected to generate Rs 120.00 crore in annual rental income. The project, developed through a 50-50 joint venture called Unity Parsvnaths LLP, has achieved 100% occupancy. Unity Group now operates six malls across Delhi and Mohali, totaling 2 million square feet of retail space. The mall will pay approximately Rs 20.00 crore annually to DMRC as lease.
Key Highlights of 'Unity One Elegante'
- Location : Netaji Subhash Place, Delhi
- Leasable Area : 5 lakh square feet
- Expected Annual Rental Income : Rs 120.00 crore
- Occupancy Rate : 100%
- Joint Venture : Equal partnership between Parsvnath Developers and Unity Group
- SPV Name : Unity Parsvnaths LLP
- Annual Lease to DMRC : Approximately Rs 20.00 crore
Joint Venture and Development
The project is a result of a strategic partnership formed between Parsvnath Developers and Unity Group. The collaboration, operating through a special purpose vehicle named 'Unity Parsvnaths LLP', demonstrates a balanced approach to risk and reward sharing in the competitive Delhi real estate market.
Unity Group's Growing Retail Portfolio
Unity Group has been expanding its presence in the retail sector:
- Currently operates six malls
- Locations : Delhi and Mohali
- Total retail space : 2 million square feet
This new addition further solidifies Unity Group's position in the northern India retail market.
Parsvnath Developers' Extensive Reach
Parsvnath Developers brings its extensive experience to the project:
- Presence in over 37 cities
- Operations across 13 states
The company's wide geographical footprint adds value to the joint venture, potentially opening doors for future expansions and collaborations.
Market Implications
The successful launch of 'Unity One Elegante' with 100% occupancy signals strong demand for quality retail spaces in Delhi. This development could have positive implications for the commercial real estate sector, particularly in prime locations of the National Capital Region.
The expected annual rental income of Rs 120.00 crore highlights the potential for significant returns in well-planned and strategically located retail properties. This success story may encourage further investments and developments in the sector, potentially leading to increased competition and improved offerings for consumers.
As the retail landscape continues to evolve, projects like 'Unity One Elegante' demonstrate the ongoing relevance of physical retail spaces, especially when combined with strategic locations and strong developer partnerships.
Frequently Asked Questions
What is the expected annual rental income of 'Unity One Elegante'?
The expected annual rental income of 'Unity One Elegante' is Rs 120.00 crore.
Who are the developers behind 'Unity One Elegante'?
Parsvnath Developers and Unity Group are the developers behind 'Unity One Elegante'.
What is the leasable area of 'Unity One Elegante'?
The leasable area of 'Unity One Elegante' is 5 lakh square feet.
Where is 'Unity One Elegante' located?
'Unity One Elegante' is located at Netaji Subhash Place, Delhi.
How many malls does Unity Group operate in Delhi and Mohali?
Unity Group operates six malls in Delhi and Mohali, totaling 2 million square feet of retail space.
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