New Delhi 2027, World Investment Aviation City is going to be India’s biggest mall The area according to Saurabh Sinha report is approximately 2.8 million square feet. This will constitute a fraction of the $2.5 billion expansion Air Travel Town: An Eight-Fold Increase by 2029 in any Indian city located near an airport. Current Aerocity has the capacity for 1.5 million square feet and would increase it to more than ten million sq ft by 2029.
Another 6.5 million sq ft will be added to Global Business District with office spaces, retail, food courts, shopping malls and public space covering about 1.8 million rentable area all together.
The first aerotropolis in the country, the Aerocity at Indira Gandhi International Airport will become India’s biggest by 2027. After a massive expansion projected to cost $2.5 billion, estimated to be eight times its size within five years.
This is not the end of it all; there will be an additional 6.5 million square feet for the Global Business District and 1.8 million leasable area for offices, retail, food courts and entertainment focused shopping malls plus public space.
GMR-backed Delhi International Airport Limited (DIAL) bid for the development of Aerocity and Bharti Realty also won the bid. Bharti holds lease on Aerocity that is co-terminus with DIAL’s lease on developing and running airport while its ownership lies with state.
“Phase two and three would involve a total investment of $2.5bn through debt as well as equity.” In phase 2 alone, Aerocity will achieve certification from Worldmark Level 4 to Level 7 which will add up to 3.5 million square feet of leasable space The largest shopping mall in India is Phase II with a coverage capacity of over 2.8 million sq ft That is triple the size of Vasant Kunj Mall currently under operation. We shall commence delivery of phase two next year and have completed the full subterranean TOI by March 2027.The parking facility will accommodate over eight thousand cars.
As things stand, Aerocity presently has eleven major hotels comprising JW Marriott Hotel New DelhiAerocity ,AccorHotels amongst others along with Roseate .The number between include sixteen hotels which should open up from Metro station till existing hotel precincts consisting St Regis as well as JW Marriott Marquis after phase two has been done so far reaching seven thousand rooms.”Worldmark’s retail offers more than three million square feet thus one among India’s greatest retail destinations,” says Sayal.
Major companies like Airbus, Ernst & Young, the International Monetary Fund, KPMG, Emirates and Pernod Ricard who were among the world’s largest while Brookfield one of the world’s largest alternative investment managers bought four commercial properties in Bharti51 % stake two years ago. For example, in 2016 Aerocity Worldmark was valued at Rs 5,000 crore during its first phase.
The northern corridor from Mahipalpur to Terminals 2 and 3 will see Aerocity gain an additional four million square feet of leasable commercial space.” Said Sayal “This will be office spaces with ground floor retail and this will be an area without borders. The whole place will be connected by bike paths and pedestrian paths”.
At full capacity, Sayal expects that over 2 million people would be working in Aerocity and annual passenger flow to reach at least 30 million. Eventually IGI will surpass over 100 million passengers per annum when it happens as T2 is replaced with a bigger T4 taking up the airport’s annual passenger throughput beyond140 million passengers. Combined with number of passengers and cargo workers employed by major airports in these categories, the area would become a traffic hub.
DIAL is developing the first ever interstate intermodal hub in India, near Aerocity metro station as a solution to this. The hub is likely to have an interstate bus terminal, Delhi Metro’s proposed Phase 4 line and Rapid Rail Transit System stations with automated people movers or skytrain stations.
“Worldmark Aerocity will be the most connected international business district on earth with multiple modes of transportation. From Meerut, Alwar or Panipat, you can be here in 45 minutes thanks to the forthcoming RRTS. Mega Mall Thousands of cars are going to park there,” according to Sanyal.
It will open by 2027 what Sayal said would be the biggest mall in India. Land which offers some of the world’s most popular forms of entertainment.
Currently DIAL and Union Aviation Ministry are at loggerheads over how many stops should be there for the proposed skytrain linking T1 side to T3/2 (or even replacing T2 by T4 at the end of this decade). At Aerocity two skytrain platforms are favored by airport operator but Department of Transportation wants fewer stops within the terminal for faster transfers.
