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South Indian metro cities awaiting new malls

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South Indian metros Chennai, Bengaluru and Hyderabad have not yet seen any new construction of mall space during January and March this year. As said by the Cushman & Wakefield reports, “These cities will witness supply of about 5 Million by this year and retail realty across India carries on to roll under the present economic stress as retailers carried on to display their indifference growth proposals.” Even if Bengaluru sees no new supply, some irregular leasing activities in the present malls maintains rentals across launched places like Mysore Road and Vittal Mallya Road constant.
Rentals values in rising malls, still recorded some improvement and Bengaluru is expected to witness up to 3 Million Sq.ft of mall supply in the year, of which about 0.5 Million Sq.ft is estimated in Whitefield area in the 2nd quarter. As per the sources saying @ the www.propertykhazana.com, Chennai has not seen any new mall in the 1st quarter and rentals fell by 8% at Central Chennai while western and southern regions remained constant. Hyderabad recorded some highest mall rental improvements ranging from 30%-35% owing to reserved demand from retailers and main street rentals witnessed improvements between 6% and 25% owing to renegotiations. For more updates on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

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