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A new high street retail and entertainment destination is set to come up in Siddharth Vihar, Ghaziabad, with Prateek Group planning a 2 lakh sq. ft. commercial development with an estimated investment of around ₹500 crore. The project will be developed entirely on a lease based model, with the Group retaining ownership of the asset and generating recurring rental income over the long term.
Positioned as a new age destination for retail, dining and entertainment, the development will target the growing residential population of Siddharth Vihar and neighbouring markets across the NCR.
The project is part of Prateek Group’s broader strategy to build a portfolio of annuity generating commercial assets alongside its residential business. By retaining ownership and adopting a fully lease based approach, the Group aims to create a steady recurring revenue stream while building long term value through its commercial portfolio.
The leasing model will also give Prateek Group greater control over tenant selection, brand mix, positioning, asset management and the overall consumer experience.
The proposed mall will feature a curated mix of national and international brands across fashion, consumer electronics, athleisure, ethnic wear, formal and casual fashion, jewellery, footwear, beauty, accessories and other lifestyle categories.
Entertainment will form a key part of the project, with plans for a state of the art multiplex, dedicated children’s entertainment facilities and family recreation zones. The development is being positioned as an experience led destination that goes beyond conventional shopping.
The food and beverage offering is expected to include quick service restaurants, cafés, speciality food concepts, premium casual dining, fine dining restaurants and banquet facilities, creating a broader culinary and social experience for visitors.
The project’s location in Siddharth Vihar is expected to provide access to a sizeable and expanding residential catchment covering Indirapuram, Crossings Republik, Raj Nagar Extension, Noida, Greater Noida and the NH 24 corridor. Rising residential development and improving connectivity in these markets are driving demand for organised retail, dining and entertainment infrastructure.
Speaking on the announcement, 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.”
Beyond its retail and entertainment offering, the project is expected to contribute to the local economy by generating activity across retail, hospitality and entertainment, while creating employment opportunities. The development is also likely to support Siddharth Vihar’s evolution as an emerging residential and commercial hub within the NCR.
With an estimated investment of ₹500 crore, a development footprint of around 2 lakh sq. ft. and a fully lease based model, Prateek Group is looking to establish the project as a prominent organised retail and entertainment destination in Ghaziabad. The development will also add to the Group’s growing portfolio of annuity generating commercial assets and strengthen its focus on long term recurring revenues.
