The expansion of recent retail has been parallel to the event of procuring malls in India. The journey that started with simply two malls in 1999 has been fast and eventful. By 2005, India had round 50 malls, which rose to round 250 by 2010.
India has seen the opening of some 570 malls until date, of which about 100 have both closed down or have stopped working as a result of some motive or the opposite. As of 2013, India had 470 operational malls, which collectively maintain a Gross Leasable Space (GLA) of greater than 128 million sq. ft, as per the Malls of India report revealed by IMAGES Group.
Within the final couple of years, a fast transformation of the Indian retail panorama has been witnessed by way of each technological development and client desire. On-line retail has made an enormous bang entry and witnessed exponential growth. Nonetheless, procuring centres which are extra like way of life locations and shock-and-awe with their sheer area, proceed to be widespread customers’ thoughts. Right here’s a take a look at the 5 greatest procuring malls in India based mostly on their complete built-up space and gross leasable space.