DLF Set to Launch ₹500 Crore Premium Mall in Goa by March 2027
About 70-75% of the mall has already been leased, he said. PVR has taken space for a five-screen cinema, while Shoppers Stop is among the other retailers that have signed up for the property.
Pushpa Bector, group executive director and business head-retail and whole-time director at DLF Cyber City Developers, said average rentals at the Goa property are around ₹175-180 per sq ft on super built-up area.
The company is primarily targeting local consumers rather than building the business case around tourist demand, she said.
“Local Goans are the ones that we are focusing on,” Bector said, adding that the mall’s location in Panaji and its connectivity to North and South Goa provide access to a wider local catchment.
The Goa property is among three retail developments being operationalised by DLF during the current financial year.
DLF has recently opened Midtown Plaza (about 2.8 lakh sq ft) in Moti Nagar, Delhi, while Summit Plaza (about 1.15 lakh sq ft) in DLF 5, Gurugram, has also become operational.Bector said DLF continues to prefer developing and retaining its retail assets rather than monetising them through a retail REIT. “There has to be a compelling proposition for us to get into a REIT,” she said.
She added that DLF already has GIC as a long-term partner, owns the underlying land for several projects and is able to raise capital for mall development, while the payback from such assets remains attractive.
Khattar said the company has launched about 6.5 million sq ft of office space at DLF Downtown in Gurugram, which it expects to complete in around two-and-a-half years. The development will also include about two million sq ft of retail space.
In Chennai, DLF is developing about 3.5 million sq ft of additional office space at Downtown Taramani. In its May 2026 earnings call, management had said it is expected to be completed around FY28.
DLF Cyber City Developers (DCCDL) is the principal rental platform of the DLF Group and develops and operates office, IT/ITeS, technology park and retail assets. DLF owns 66.67% of DCCDL, while Singapore sovereign wealth fund GIC holds 33.33%.
