Ashwin Sheth Group has launched its Viviana brand in Nagpur in a joint venture with Nagpur-based Sethi Group. The real estate companies have entered into an agreement to develop 1 million sq ft. of Viviana Nagpur at city’s upmarket southwestern region near Pratap Nagar.
This will be the largest retail space in Nagpur and it will be in the neighborhood of the affluent areas of Ramdaspeth, Dharampeth, Dhantoli, Pratap Nagar, Shivaji Nagar, Laxmi Nagar, etc. It would cater to the brand-aware shoppers with various options. On the other hand, it will also provide a few thousand direct and indirect employment opportunities for the local populace.
The entire project involves an investment of Rs 650 crore, which includes the land’s valuation and construction cost. A Memorandum of Understanding has been inked between both the real estate groups and a formal agreement is expected to be signed in a month.
The land parcel is owned by Sethi Group on which other than various retail sub-segments, there will also be substantial space dedicated for entertainment and food & beverage sections as it is located in an upmarket commercial street in the western region of Nagpur.
