The Mall culture is ruling the retail market as of now with various aspects and hence many major realty giants have shifted their eagerness towards the crafting of few more addition for the customers. According to the sources of www.propertykhazana.com it is sure to attract the FDI while processing for this mega structures as it absorbs a huge amount of currency both initially and finally. It will be a mile stone step towards the expansion of various brands in the country for easy touch of the buyers. The new construction of various malls in the country include Atul Ruia's Pheonix Market City malls, DLF's Mall of India in Noida, Dubai-based Lulu's mall in Kochi, and L&T's Elante Mall in Chandigarh which are expected to open for the public by mid of the next year.
But a mix review of the retail owners are also came to notice for their expansion due to some undisclosed reasons. On time delivery of space to all the retailers play a vital role of a better relationship between the retailers and the mall owners. According to a source of www.propertykhazana.com it is found that many retailers has payed their booking amount for their respective space in the malls but there is doubt for timely completion of these malls due to one or the other hindrance like land acquisition, approval issues and other relate issues that slow downs the process of completion. Owner of Spencer in Kolkata has many new ongoing projects suppose to get ready by end of 2012 but it might reach 2013 looking to the market condition. Same goes with the Pheonix Mills as the supply goes down as compared to the demanded malls in various metros of the country. Higher inflation rate with high rate of interest for the money borrowed from various sources lay stones for its slow grow rate. For all this reasons around 22 malls has been put on hold in Bangalore and around 7 malls in Mumbai whose construction is paused due to various reasons. No doubt this slow growth rate of the malls in various metros will definately hampers the profit margin of the number of luxury brands around the market.
Source: NIMMA BENGALURU
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