It’s raining malls in India! Despite the onslaught of the e-commerce business across the country, malls are still serious business. According to Anarock's latest retail report ‘TCCx: Redefining the Future of Retail Malls’ released at the CII North Retail Conclave recently in Delhi, the sector is riding high on the phenomenal rise of consumerism and renewed interest by institutional investors.
In all key cities of India, supply of organised retail space dropped 83 per cent in 2012, according to a report released on February 13 by real estate consultancy CB Richard Ellis (CBRE) South Asia. Approximately 2.5 million sq ft of fresh retail space entered the market in 2012, mainly in Bangalore, Kolkata and Pune, compared with over 15 million sq ft in 2011, according to the Indian Retail Market View report.