Trident Group of Delhi Acquires Shipra Mall in Indirapuram Ghaziabad For INR 551 Cr

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Trident Group Acquires Shipra Mall

Trident Group of Delhi has acquired Shipra Mall in Indirapuram, Ghaziabad, NCR from Indiabulls Housing Finance Ltd and Edelweiss Asset Reconstruction Company Ltd for Rs. 551 Crores.

Indiabulls and EARC have issued a notice pursuant to the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act of 2002 in an effort to recover their debt from the Noida-based Shipra Group.

This will be our first retail endeavour, but we will continue to seek out similar opportunities in urban cores with an existing residential catchment. The mall has been operational for years, and we will further develop it and lease the vacant space, said Parvinder Singh, CEO of Trident Group.

The mall has a total of 450,000 square feet of rentable space, of which 100,000 square feet are unoccupied. The corporation has paid a total of Rs 44 crore in registration fees and stamp duty.

Recently, Indiabulls took possession of the complex and set a reserve price of Rs 550Crs for the auction. Over 20.34 million square feet of residential and commercial space has been constructed by Trident Group.