Mumbai: Prateek Group is set to develop a 2-lakh sq. ft. high street mall in Siddharth Vihar, Ghaziabad, with an estimated project value of approximately ₹500 crore. The commercial development will operate on a 100% lease-based model, with the Group retaining ownership of the asset and targeting long-term recurring rental income.
The project is planned as a retail, dining and entertainment destination for the expanding residential catchment in Siddharth Vihar and neighbouring markets across NCR. The development marks a broader push by Prateek Group to build a portfolio of income-generating commercial assets alongside its residential business.
Under the proposed leasing model, Prateek Group will retain ownership and control over the mall rather than monetising individual commercial units. The structure is expected to give the developer greater control over tenant selection, brand positioning, asset management and the overall consumer experience, while creating a recurring revenue stream from rentals.
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The mall is planned around a mix of retail and lifestyle categories, with national and international brands expected across fashion, consumer electronics, athleisure, ethnic wear, formal and casual fashion, jewellery, footwear, beauty, accessories and other lifestyle segments.
Entertainment is also expected to form a significant part of the project. Plans include a state-of-the-art multiplex, dedicated kids’ entertainment facilities and family recreation zones. The positioning is intended to extend the development beyond a conventional shopping centre and create a destination combining retail with leisure and entertainment.
Food and beverage offerings will include quick-service restaurants, cafés, speciality food concepts, premium casual dining and fine-dining restaurants. The development will also include banquet facilities, adding another component to its planned dining and social ecosystem.
The project’s location in Siddharth Vihar is expected to give it access to a growing residential catchment spanning Indirapuram, Crossings Republik, Raj Nagar Extension, Noida, Greater Noida and the NH-24 corridor. Ongoing residential development and improving connectivity in these markets have contributed to rising demand for organised retail, dining and entertainment infrastructure.
Commenting on the development, Prashant Tiwari, Chairman, Prateek Group, said, “The ₹500 crore high street mall in Siddharth Vihar is an important part of our strategy to build a strong portfolio of income-generating commercial assets. Our vision is to create a destination that brings together shopping, dining, entertainment and community experiences under one ecosystem. By retaining the asset and following a completely lease-based model, we will be able to curate the right brand mix, maintain high operational standards and create a consistently strong consumer experience while generating sustainable long-term rental revenues.”
The development is also expected to support economic activity across the retail, hospitality and entertainment sectors, while creating employment opportunities in the area. The project comes as Siddharth Vihar continues to emerge as a residential and commercial destination within NCR.
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With an estimated value of approximately ₹500 crore, a development footprint of around 2 lakh sq. ft. and a 100% lease-based structure, Prateek Group plans to establish the project as an organised retail and entertainment destination in Ghaziabad while expanding its portfolio of annuity-generating commercial assets.
