Agra Cantonment Board to build mall

Vishal Sharma 
New Delhi/ Agra.                After having failed to attract builders for more than an acre land it had offered on long-term lease for the construction of a multi-storied shopping mall, the Agra Cantonment Board has now decided to construct the shopping mall itself, on self-finance basis.

According to the Cantonment Board sources, the board was planning to construct a state-of-the-art multi-storied shopping mall on its land measuring about 1.06 acres, primely located at the Mall road.

The shopping mall project was planned to have pre-fabricated shops of an area as desired by the interested party, which would be leased out for a period of 30 years after which, the lease will have to be renewed.

Sources claimed the shopping mall was still on the drawing board and the final layout of the mall would be prepared according to the requirements received by the Cantonment Board from the interested parties by the end of this month.

Notably, the board had earlier planned to offer its 1.06 acre land to any construction company which was interested in building the mall on the land, vacating the land on the expiry of the 99 years lease but the board had failed to receive any positive response for this project due to the non-renewable lease of the land, forcing it to dump the entire proposal of leasing off the land and construct the shopping mall all by itself, financing the construction costs by leasing off shopping space inside the mall for 30 years, instead of offering the space on rent.

Suresh Nagar, chief executive officer, Agra cantonment Board said the shopping mall will be one of the most primely located pieces of real-estate in Agra. 

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