Shopping Malls in Indiaby IndiaLinkers InfoTech on June 19, 2007
The emergence of a mall culture and development of malls should come across as a positive development .With all the major retailers planning to double the number of stores and the retail space that they will need in the next three years, availability of real estate space will be a key enabler for growth. Many of the Indian cities are choking under rapid urbanization. And Central Business Districts (CBDs) in many cities today are not capable of supporting the massive growth plans of retailers. High cost of retail space is certainly a cause for concern. Real estate laws in India are archaic in nature and impede the retailing development. The Urban Land Ceiling Act, the Rent Control Act, the stamp duty for the transfer of property ownership are some of these impediments. Six hundred new shopping centres will come up in the Country by 2010, according to Deutsche Bank Research May 8, 2006 (see Table 4.2). Reliance Retail is currently negotiating with realty firms like the Harsh Neotia group and RDB Industries in Kolkata, Baghay.
Table below: Deutsche Bank Research May 8, 2006
Malls and More
Number of Malls in 2008
Delhi – 96
Mumbai – 55
Bangalore – 14
Chennai – 6
Kolkata – 10
Hyderabad – 12
Pune – 19
Ahmedabad – 7
Source: Trent Ltd
Nagar in Hyderabad, GTC in Mumbai and DLF in Delhi to buy large retail spaces for convenience stores and hypermarkets alone. Including space for rural retail centres and malls, Reliance wants to buy 100m sq ft of land. Reliance Industries Ltd, which plans to launch a retail chain, has submitted a 2.88-billion-rupee bid to revive an ailing shopping cooperative Super Bazaar. Reliance, said in June 2006 it would invest $5.6 billion in retail that would sell everything from food to clothes to travel services.
2 thoughts on “Shopping Malls in India”
I can’t believe that in 2000 there were no malls in India but now their are nearly 600 malls. Amazing!!!!!!!! Keep it up India.
ya thanks…………. Its a good information
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