Project

Nashik, the wine capital of India, is part of the Mumbai-Pune-Nashik Golden Triangle promoted by the Maharashtra state government as an area for economic development. With a population of over 1.3 million, Nashik is also a hub for auto and auto-ancillary industries, and is emerging as an aviation centre.

Despite growing prosperity and consumer spending, Nashik is dependent on a disorganized high street for its retail shopping. To address this market opportunity, Yatra acquired a 50% interest in an 800,000 square feet city centre shopping centre development, which is Nashik's first and only organised retail development.

The project has been conceptualized as a value based shopping mall and this is reflected in the design, tenant mix and positioning of the development.

Yatra's joint venture partner in this project is the Sarda Group, which is a Nashik based diversified business group with a history of pioneering initiatives in the city. Key business activities of the group include real estate, consumer products, hospitality, education and niche floriculture.

Key Highlights

• Nashik City Centre will be the first operational asset in Yatra's portfolio.
• The project is situated approximately five minutes driving distance from the current high street and is surrounded by the primary catchment of middle and high income households.
• The development will be the largest retail and entertainment centre of the city with no immediate competition.