Noida- GIP mall likely to be sold for 2000 crores

Noida's Great India Place mall popularly known as GIP, located in sector 38 A is reportedly to be sold for Rs 2000 crore. The mall, when it opened in 2007 was termed one of the biggest in the country and used to be a shopping destination for visitors all around Delhi NCR.

GIP mall is going to be auctioned soon to clear the debt of Rs 800 crores and the Great India Place, Gardens Galleria Mall, Worlds of Wonder Amusement Park, and Kidzania are all part of the 147 acres of land that is going to be sold. The unoccupied land may eventually be developed by the new builder.

As gathered, the GIP mall adjacent to the Noida sector 18 metro station was developed by the Appu Ghar Group and the Unitech Group. It is maintained by Entertainment City limited.

The news has created a sense of sadness for residents who have memories of the place. Sushil Kumar Jain, President of Sector 18 Market Association Noida, says, "People used to enjoy themselves while visiting this mall in the beginning, but as time passed, people's interest in it began to wane. After the launch of DLF-Mall of India, business and popularity affected the GIP mall. Major showrooms moved to DLF Mall, which dealt the GIP Mall a devastating blow. GIP Mall is on the edge of being deserted right now. This is the reason behind the GIP Mall's upcoming sale."

Sundar Kumar Sinha, a visitor at the GIP mall says, "My whole family used to come here for weekends. I remember we used to shop everything from the big bazaar, and suddenly when I heard that this mall is going to be auctioned, it simply brings back memories."