STOCK MARKET BSE NSE

Lulu Mall to pay Rs 8.25 crore in taxes

Published: 10th March 2013 08:36 AM  |   Last Updated: 10th March 2013 08:36 AM   |  A+A-

With the inauguration of the Lulu shopping mall at Edappally, Kalamasserry municipality would be the wealthiest in the  state as the mall would be paying a tax of Rs 8.25 crore, said M A Yusuff Ali, managing director, Lulu Group. He was interacting with media ahead of the inauguration of the mall on Saturday. The mall would be officially inaugurated by Chief Minister Oommen Chandy at 11 am on Sunday.

Yusuff Ali said that the total investment is Rs 1,600 crore and the group would break even in 24 years.

“Though this is the group’s first mall in the country, we are planning to open more shopping malls. Lulu Mall at Edappally would set a role model for the entire country. Earlier, people came in search of traders. But the situation has changed now. Now businessmen are in search of people,” he said.

He also said that the electricity bill of the mall would be Rs 1.65 crore per month.



Comments

Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the newindianexpress.com editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on newindianexpress.com are those of the comment writers alone. They do not represent the views or opinions of newindianexpress.com or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. newindianexpress.com reserves the right to take any or all comments down at any time.

IPL_2020
flipboard facebook twitter whatsapp