Story of How i lost upward of 2 lakhs because of renting in Xander Group’s Virtuous Retail Mall VR Surat. Beware of renting there. VR mall are exploiting lessees who are shutting down due to losses by charging full rental of the lockdown and afterwards; They are not taking rent for the lockdown period from other lessees and providing 50% rebate of rent after lockdown. VR Mall Surat is also exploiting the lessees who were not able to open shops after lockdown due to lack of man power supply or material supply by charging 50% of the rent which many retailers are in protest of.
I had open a small dessert kiosk of 70 sq-ft in Virtuous Retail VR Mall Surat on rental. The whole organisation of VR Surat seemed to have an attitude problem that the retailer have to suffer right from the starting the store and operating the store and you really feel like jailed with all their rules. The sales of our kiosk was very mediocre for the rent we were giving and even as we were just breaking even, as soon as the 11 months of the agreement was over, Xander group operated VR Surat increased the rental by 10%. So its like as soon as you start to establish yourself, rent goes up 10% every 11 month. They also don’t entertain shifting to better location without increasing high amounts of rent. Than VR Surat even ask you to pay property tax. And every payment Virtuous Retail’s VR Surat take from you whether its electricity, rent or even property tax, it charge 18% gst on it. Thats ok but then came the corona virus and lockdown from 24th march to 8th june. So i demanded the rent for the lock down to be removed and some percentage beyond for which VR Mall Surat didn’t give decision even after 2 months of operating after lockdown. Meanwhile i was running the kiosk which was timed from 11am to 7pm against the regular 11pm. The theaters, game zone and most of the food court was closed and the whole mall would even close down on Sundays because of corona. The sale was so low that even the salary could not be drawn out from it, forget about the rent. I operated the kiosk from 8th June to 9th July before realizing i need to shut down amid big losses and fear of catching corona virus. So i send the notice to shut down but then VR Mall Surat said according to agreement i have to operate one more month which i was not willing because of monetary losses and fear of corona but than i obliged to operate till 9th august. I requested VR Surat to not charge for the lockdown and minimum for which i operated. But Virtuous Retail Surat charged full for the lockdown and two months afterwards including of the notice period. I was charged 2,22,754 for that period against the business of 21,827 for that period from the deposit of 2,64,000. Virtuous Retail’s VR Surat decided to charge full rent for the ones who are shutting their shop and not from others. In my opinion they should not exploit the one who are leaving just because they decided to shut because low business. So Retailers be careful in renting shop at VR Surat by Virtuous Retail and I request them not to. Virtuous Retail is run by Xander Group Founded by Sid Yog. Their other run malls are VR Chennai, VR Bengaluru, VR Punjab, VR Ambarsar and VR Nagpur. Below is the Full and Final summary of my kiosk