AFTER BARS and microbreweries on the busy and vibrant stretch of Madhya Marg closed down, Industrial Area Phase 1 seems to be the new hub of clubs and microbreweries. Several microbreweries are coming up in Industrial Area Phase 1. With people looking for alternative place here, rates of outlets in the buildings — Berkeley Square, City Emporium Mall, Centra Mall and Godrej Eternia — which were lying almost deserted have also increased manifold .
With Elante mall and other hotels here already attracting a huge crowd, the hotel owners find good prospects in this belt. Sahil Kataria, a local resident, who had earlier finalised an outlet for opening a microbrewery in Sector 26 has now purchased one complete roof in the building of Berkeley Square. In the same building, another brand, Barcelona, is coming up too. A brand, Ministry of Bar Exchange, is coming up at City Emporium Mall as well.
Five hotels and microbreweries located in Sector 26 and one at Zirakpur have zeroed in on the Godrej Eternia building, where the rent of an outlet is Rs 10 lakh per month, more than what the owners paid in Sector 26. “Our business is really suffering. How long will we sit like this? Six of us, including our Kingdom of Beer, and others have zeroed in on the Godrej building as an alternative. The rates have shot up drastically. We are paying around Rs 6.5 lakh per month in Sector 26 and there in Phase 1, the rent is Rs 10 lakh,” said Vikas, owner of Kingdom of Beer, adding that the building owners had even sought six-month security.
The Kingdom of Beer was ready for inauguration but just then the administration declared Madhya Marg as a state highway. Sandeep, who owns the Godrej Eternia building, said, “Yes, we are in talks with six microbrewery owners and we are getting queries from others too.”
However, the club owners are still waiting for the construction to start in the Godrej building. “For bar owners, everything is uncertain now. There are rumours that the administration might think of denotifying the stretch or the petition might be reviewed in the SC. What will happen if Sector 26 reopens? So we will start after July,” added Vikas.
Sunil Kumar, a property dealer in Industrial Area Phase 1 who is also former chairman of Property Consultants Association, said, “We are flooded with enquiries by hotel owners who wish to relocate here. Because of the increasing demand, the rates have shot up. In City Emporium, earlier the rate was around Rs 70 per square foot but now it is like Rs 125 to 150 square foot.”