New FDI norms has boost up the energy of mall developers as well as the retail consultants across the country. According to the sources of www.propertykhazana.com it will prove a better expansion of the mall for new cities as well as in the existing and it will be exhibiting more brads as compared to the earlier times for the consumers. A much more demands scene will be witnessed in the market with the introduction of FDI or the multi brand section as stated by Arindam Kumar – DLF Place vice president.
It also been argued by many that it will be a positive step beside the slow economic growth in the market and will increase the momentum of finance after its proper implementations. Over supply of the retail space in many major cities will be an added advantage for the growth of the market after the new norms of FDI. As a result realty tycoon DLF has already calculated to invest around Rs 3000 crores for the coming five years for all the range of shopping malls. Total surface area of malls has been counted around 4 million square feet by the top orders of the company. It will create a great enthusiast among all the investors as the government as approved 51 percent for the direct foreign investment in multi brand retail segment where as 100 percent for the single brand. Apart from this other known names like Unitech has come forward with a statement to invest around Rs 4000 crores for the development of shopping malls in next couple of years.
Source: NIMMA BENGALURU
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