Opening shopping mall at OMR

CHENNAI: Suryavardhan Estates Private Limited is all set to lease out Coromandel Plaza, its new mall at OMR. Constructed at a cost of `105 crore, it occupies a sprawling area of 3 lakh square feet.The five floor mall, with elaborate parking facilities and a four screen AGS multiplex, targets over two lakh people working in the IT parks, hotels and hospitals; school and college students; and the residents staying on the OMR and ECR stretch. Coromandel Plaza is promoted by Tarapore and Company and Mangal Tirth Estate Ltd, the developers of India’s first shopping mall, Spencer Plaza. The mall is expected to be fully operational by the end of 2011.Addressing the media, N Radhakrishnan, Director of Suryavardhan Estates, said that a few outlets are in the final stages of signing the lease. “The mall would be partially operational by October and fully operational by December”, he said.According to Vijay Sadarangani, advisor of Suryavardhan Estates, “We have done extensive research in ensuring adequate facilities under one roof and shopping experience for customers by constructing a variety of 120 stores under 50 categories.” He also said that to address the parking problem, which is critical and vital in most malls, two basement floors have been allotted for parking.Coromandel Plaza is said to have everything from florist to laundry outlets, apart from the other usual places like food courts in all the floors, crèche, baby strollers, prayer area and wi-fi throughout the mall.Mitu Sadarangani, Director of Suryavardhan Estates said that the presence of large number of potential customers with high disposable incomes and the absence of organised retail outlets in OMR will work in favour of the new mall.The mall is located in the high density IT office area of Siruseri and Navalur.