MARG, a leading city realtor, is executing a multi-use development project namely ‘Marg Junction’, which will have a mall, a multiplex, a hotel, service apartments, offices, etc. The company’s plan to develop retail, commercial and leisure development in three phases, spread over 7.3 acres with a built-up area of 1.83 million sq ft, will go on stream in the first quarter of 2012.
Marg Junction is strategically located in southern Chennai with a clear first mover advantage. There is a 7-screen multiplex, a departmental store, and a hyper market. Over 35 per cent of the mall space has already been leased out, and another 15 per cent of the space is expected to be signed off in the next two months.
Marg’s real estate commercial division identifies projects in Chennai’s retail, hospitality and office space market segments. Marg Junction is a large 7.3 acre property located in Karapakkam on the Old Mahabalipuram Road, in close proximity to large development centres of IT behemoths like the TCS, Infosys, Cognizant and Accenture. The development consists of a 6,56,000 square feet mall, twin office towers offering 2,24,000 square feet of office space and a large 240-room, 5-star business class hotel spread over 3,23,000 square feet.
Marg Junction Mall will be a one stop destination for shopping, dining, leisure and entertainment for the fast growing areas of OMR and South Chennai. Marg Junction promises to be the only biggest mall coming up on the IT Corridor of Chennai, flanked by a serene river on one side and a three-way entry-exit facility. It has all the features and is touted to be one of the most unique malls in the country.
OMR has been the hub of all IT companies in Chennai. The last one year has seen aggressive activities from leading real estate and construction companies from other states. Most of the developers are offering amenities like health clubs, sports facilities, supermarkets, etc, in this belt, so that the residents need not travel to the city for availing them.
There are currently about 1,50,000 people employed in the IT and BPO companies along the OMR corridor alone. The impetus for real estate development has come from projections that, about an additional two lakh and fifty thousand people will be employed in the IT belt in the next one to two years.
MARG Junction will have a hi-tech health club, a custom designed swimming pool, a choice of multi-cuisine restaurants and leisure zones to help the traveller unwind and stay fit. Designed and developed as a Green Building, MARG Junction has state-of-the-art working space spread across 10 floors. MARG Junction has tied up with top retail outlets for the real shopping experience. Customers can enjoy fine dining in a food court which can cater to a seating capacity of over 700 people.