ABOUT THE PROJECT
* The mall will also have a gaming and entertainment centre, food & beverages outlet
* The project is likely to cost Models Real Estate Developers over Rs 55 crore
* Employment generation for 300 locals, including direct as well as outsourced expected
* Parking space for 189 cars planned
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It is also reported that Models Real Estate Developers owns a piece of land measuring 5,325 square meters in Socorro village, which is classified as settlement in Regional Plan 2001 and commercial in Regional Plan 2021. It is on this plot that the company wants to build an entertainment centre and shopping mall.
The company is planning a gaming and entertainment centre, food & beverages outlet and shopping mall as a part of this project. The entertainment cum gaming centre is particularly aimed at tourists. Considering that North Goa is a major tourist spot, the company has planned the project strategically.
As per the documents in the possession of The Goan Everyday, the entertainment centre and shopping mall is going to cost Models Real Estate Developers in excess of Rs 55 crore. The project is likely to generate employment for 300 locals, including direct as well as outsourced jobs.
The project is estimated to earn a revenue of Rs 37 crore in the first year of operation, Rs 78 crore in the second, Rs 82 cror in third and Rs 89 crore in the fourth.
The project is being planned to have a parking space for 189 cars. In terms of power requirement, the total connected load will be 990 KVA. The project’s annual water requirement is estimated to be to the tune of 15.5 million litres at full capacity.
The entertainment centre and shopping mall will generate 150 tonnes of solid waste in a year. This will include bio-degradable waste (food waste) and non-biodegradable waste (crockery, broken glass etc).The bio-degradable solid waste will be treated in an organic waste converter.
The project got the in-principle approval from the investment promotion board (IPB) in its board meeting in January this year.
