By the end of the year 2026, several shopping will open in seven major cities of the country, which are going to open in 166 lakh (16.6 million) square feet area. According to the advisory firm AnaRock, ie these shopping malls will open in such areas during the 2025 and 2026 calendar years. According to PTI news, according to PTI news, Hyderabad and Delhi-NCR will have the highest stake in the latest supply with 65 percent. The remaining five cities are Mumbai, Kolkata, Chennai, Bangalore and Pune.
Bounce also due to decrease in new supply of grade a mall
According to the news, Anuj Kejriwal, CEO and MD of Encarock Retail, said that the decrease in the new supply of grade a mall in cities has also brought this jump. The last three -year data trend shows that the supply of new malls in the top 7 cities does not match the overall leasing. In the year 2022, the supply of about 2.6 million (26 lakh) square feet new grade A retail was seen in these seven cities, while leasing was 3.2 million (32 lakh) square feet. Similarly, in 2023, the supply of 5.3 million (53 lakh) sq ft new grade A mall was observed, while 6.5 million (65 lakh) square feet were leased.
Demand-supply gap increased further in 2024
The advisory firm said that due to decrease in approval due to common and state elections, the demand-supply margin increased in 2024. Kejriwal said that in 2024, the new grade A mall supplied was just 1.1 million (11 lakh) square feet, while leasing was 6.5 million (65 million) square feet. Although the estimated new supply somewhat increases the possibility of potential overpoples, the current absorption trends are going to assure.
Retail locations in the mall estimated to be high
Enerock has estimated the leasing of retail places in the mall in the next two years in the top 7 cities to exceed 12.6 million (126 lakh) square feet. Pacific Group Managing Director Abhishek Bansal said that the expansion of retail real estate is also gaining momentum in Tier II and III cities. It dominates the metro cities.
The Pacific Group has nine shopping malls in Delhi, Ghaziabad, Faridabad and Dehradun, including more than 3 million square feet of retail. VP-projects Pralash Guha of Trehan Iris said that Delhi NCR is expected to emerge in this expansion, inspired by the growing consumer demand, better infrastructure and the dynamics of the changing lifestyle.
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