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Homechevron_rightBusinesschevron_rightLockdown: Unity Group...

Lockdown: Unity Group exempts merchants at its malls from paying one month's rent


New Delhi: Realty firm Unity Group, which has four shopping malls in the national capital, will not charge rent for the month of April worth Rs 10 crore, to provide relief to its retailers and other merchants affected by the nationwide lockdown.

Unity Group has exempted all merchants at its Unity One' malls and Vegas' mall from paying rent for a month, said Harsh Bansal, Director, Unity Group and Pratham Group.

"The total rent waiver will be about Rs 10 crore," he told PTI.

Unity Group has more than 300 retailers in various locations of Delhi including Dwarka, Rohini, Janak Puri and CBD Shahdara.

"Due to this coronavirus pandemic, retail sales and footfall of commercial properties are gravely impacted at this initial stage itself, the retail sector became an instant victim as soon as the intensity of the coronavirus spread became known.

"We will continue to do everything we can to support the retailers and maintain business continuity until the crisis ends," Bansal said.

Since 1996, Unity Group has delivered more than 15 Million Sq Ft across 150 real estate projects across Delhi-NCR. It is developing a luxury housing project at Karol Bagh here.

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News Summary - Lockdown: Unity Group exempts merchants at its malls from paying one month's rent
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