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Excess of mall space supply expected by 2008

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Claimed sources to www.propertykhazana.com says, growth in realty segment has constantly preserved to remain in stride with retail segment and this led to extraordinary increase in supply of sites for organized segment. Mall sites are expected to stroke 40 Million Sq.ft by 2007 from the 2002 and a projected 60 Million Sq.ft by the end of 2008. In India retail segment is focusing mainly on metros of Delhi and Mumbai which gave a good potential to offer, said Jones Lang LaSalle Meghraj to the www.propertykhazana.com. Known as ‘Geography of Opportunity – The India 50’, comprises information regarding Delhi and Mumbai which accounted for 40% of the national organized retailing by 2008. It is expecting to lead the retail segment in India with predictable total mall stock of 22 Million and 15 Million Sq.ft correspondingly by 2008-09.
As per to the review reports available with the www.propertykhazana.com, there are about 50 cities across the country known to be lined up to benefit from the flourishing retail segment and these have been sorted according to the socio-economic individualities, retail activity and shopping mall development. Delhi and Mumbai are chosen as grown-up cities and leading other Indian cities in terms of many shopping malls and retailers. In addition, lucidity appears to be rising day by day and thanks to the rules bought by the Govt. Silicon City, Hyderabad, Kolkata, Pune and Ahmedabad have many large retail projects in hand. Other cities like Chandigarh, Ludhiana, Jaipur, Lucknow and Kochi are also leading the group, represented by soaring levels of shopping mall development and retailer interest.
Source: NIMMA BENGALURU

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