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Jul 31 2007

Distribution of Mall space in Delhi and NCR

Published by tondon at 5:06 am under real estate india Edit This

The booming retail industry has brought about a major growth in Delhi real estate sector of the country. As India opens up FDI in the retail sector, there has been a conspicuous buzz in the industry as the Indian brands have a healthy competition ahead as international brand make their foray Delhi real estate(India).

This involvement of high-class retailers has brought about the Mall culture in Delhi real estate. Delhi has been predominantly a city with the highest per capita income – which is 2.5 times higher than the national average. And with MNCs dominating the corporate sector in Delhi and NCR, high incomes and disposable money have further accelerated the retail business in the city. Delhi is now gearing up for the mall revolution with the district centers like the Mayur Vihar areas in East Delhi, Vasant Kunj area in South Delhi, Pitampura area in North-west Delhi and the Janakpuri area of West Delhi having emerged as the mall destinations of the city. But the adjoining cities of NCR like Gurgaon, Noida, Ghaziabad and Faridabad have revolutionized the mall option like never before.
Compared to the present statistics of 3 million Sq.ft of mall space available in city, the next few years are expected to see an additional 17 million sq.ft of retail space in Delhi real estate & NCR.

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