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Major mall locations witness 5 – 15 percent vacancy

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Along with other realty products, Malls was one of the top preferred entities of the realty players in the Indian market. Source reported at www.propertykhazana.com reveals that around 5 percent to 15 percent mall vacancies are still intact in the major locations of the country like Mumbai, Pune, Delhi, and Hyderabad for the count of June 2009. Though there are many teasing offers for the traders but it has become very hard to touch the satisfaction of occupancy during last six months of dull realty.
However the rental scene was something different in the year of 2006 -07 with an annual rental growth of 30 to 40 percent where developers have taken a lot projects concentrating on the Mall culture around the major cities of the nation as added on www.propertykhazana.com. Then with the mid of 2008 a down turn has come with correction nearing about 30 percent to 35 percent at the later stage of 2008 and there after.
High expectation on the rental has later tended towards some flexible measures like ‘revenue sharing’ and ‘minimum guarantee’ for many new upcoming malls in the major cities and also included the norms of performance during the agreement. On a short note with www.propertykhazana.com, Mr. Gupta has stated that “all these revenue sharing norms were implemented on for every occupant depending on the tenant and the store type. It played a better prospect for both retailer and the owner of the mall as it reduced the risk of higher vacancy and better sharing of revenue in the future”. For more and latest Indian real estate news browse www.propertykhazana.com.
Source: NBTVLIVE

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