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Shipra Mall in Indirapuram, Ghaziabad, Sold for 551 Crore

Date - 18 May 2023
Shipra Mall

On Friday, the famous Shipra Mall which is in Indirapuram was sold to the best known Himri Estate Private Limited.

The Mall was sold out for Rs.551 Crore. Total amount of Rs.38.57 Crore was paid as a stamp duty and an amount of Rs.5.51 Crore as a 'Registration Fees' to the Stamp Department for the record. The Government has earned a revenue of Rs.44.08 Crore from the 'registry'.

Shipra Group has borrowed a billion rupees from Indiabulls Housing Finance. Instead of a loan, Shipra Group mortgaged Shipra Malls to India Bulls. And then the Shipra Real Estate was declared a defaulter by Indiabulls for non-payment of a loan. As the conflict intensified, the real estate business sued the loan company. The issue has increasingly come before the Supreme Court. Shipra Mall was liquidated by India Bulls following the court's intervention, and on Friday, Himri Real Estate Private Limited purchased the shopping center.

The Shipra Real Estate Group constructed this mall in 2005. It was Delhi-NCR's premier commercial property. Everyone residing in Delhi-Noida, Ghaziabad, has undoubtedly been to this mall at least once. Shipra Mall, one of the youth's favorite destinations, is home to multiple brands. Located on the Delhi-Ghaziabad National Highway, Indirapuram neighborhood, is where you'll find Shipra Mall. It was constructed by Shipra Real Estate Group in 2005. At the time, it was the only mall that had all of the major international brands. Brands such as Zodiac, Globaldesi, Cobb, Fabindia, Van Heusen, and Adidas. For movie watchers it is the best mall to visit. Like it has the Inox Theatre that offers the best possible movie going experience.

Earlier, this mall came to light regarding the allotment of land. Shipra Group was given a recovery certificate for failing to pay land allocation debts. Previously, the order for sealing of the mall was ordered and now, the mall is sold for all the good reasons.

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