As per sources, the Inorbit Mall, which is a subsidiary of the Raheja Group, will soon have a new branch in Vizag. It is said that the representatives of the Raheja Group have visited various areas within the city limits, earlier this month. Reportedly, a location near Saligramapuram, which is owned by the Vizag Port Trust, has been finalised for the construction of the new Inorbit Mall.
The new facility is said to be built on a wide area of 17 acres and the mall owners have cracked a deal with the port authorities. Sources claim that the construction works will commence soon and that an official announcement of the same will also be made. The Raheja Group is in plans to lease the 17-acre land for a period of 30 years, for which the port trust quoted a whopping Rs 125 crores.
K Ram Mohan Rao, Chairman of Vizag Port Trust, stated that the land will be leased out only at the quoted price as per the current market value. He added that proper utilization of the land will be ensured and that this decision will be a milestone for the port trust.
It is already known that the LuLu Mall, a leading chain of malls in India, was supposed to open its facility in Vizag, but got cancelled due to various reasons.
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