Retail
Retail Real Estate:
The total market size of retail industry is presently worth US$300 billions and expected to reach $650 billion by 2015. The traditional stores are being replaced by retail chains, shopping centres, supermarkets and hypermarkets. This growth in the retail sector will inevitably provide strong impetus to the retail real estate.
Retailers and Malls
The country is witnessing a spurt in the requirement of large retail space of 220 million sq.ft from the presently available 40 million sq ft. Shopping malls with over 1 million sq ft of space have become the order of the day.
Upcoming retail malls in india
Unitech's Great India Place has a million square feet (sq ft) of retail space at Noida. Eight malls covering over 1 million sq ft each in Mumbai.
Three malls covering over 1 million sq ft each in Bangalore.
Two malls, first of their kind, targeting foreign tourists, will come up at tourist hotspots--Goa and Udaipur--with a projected cost of around US$ 22 million each.
Jewellery mall and an auto mall at Gurgaon, on the suburbs of New Delhi.
India's largest theme amusement park, Noida Entertainment City (E-City), will stand upon 150 acres approximately.
Bangalore will get an exclusive furniture mall. A furnishings mall is coming up on Elgin road in Kolkata.
Ludhiana will soon have a 1.6-million sq ft mall by Today Homes.
Reliance Retail, Future Group and Bharti-WalMart are among leading retail companies that are acquiring housing societies and colonies in Ahmedabad to knock down and build mega-retail stores.