As of now, the top seven cities of India comprise 72 percent share while MMR, Delhi-NCR, Hyderabad & Bengaluru are slated to see highest the supply of space. Tier II &III cities will see 18.2 million sq.ft. of the new supply. Aside from this, nearly two-thirds of total new supply (40 million sq.ft.) will hit the market by 2020…
Despite the onslaught of e-commerce across the country, malls are still serious business in India. According to ANAROCK’s latest retail report ‘TCCx: Redefining the Future of Retail Malls’ released at the CII North Retail Conclave today in Delhi, the sector is riding high on the phenomenal rise of consumerism and renewed interest by institutional investors.
According to the report: Indian mall developers are looking to add over 65 mn sq. ft. of new mall supply by 2022-end across the country. Secondly, of this total new supply, the top 7 cities comprise 72 percent share and the remaining 28 percent (18.2 mn sq. ft.) will come up in Tier II & III cities. Thirdly, MMR, Delhi NCR, Hyderabad, and Bengaluru together lead with new supply aggregating to nearly 34 mn sq. ft. in these cities.
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