Almost all the Grade A malls in India provide excellent support services and facilities for their visitors. Nevertheless, despite the massive progress seen so far in Indian malls, we have still to see the arrival of genuinely international standards.
Proper research and a structured approach is needed to develop specialty malls, as their success depends upon demand and supply dynamics as well as the financial feasibility of particular categories.
Mid and mass-segment brands best placed to tap into tier-II / tier-III potential
In contrast, Mumbai has about 45 malls and out of which 10-15 are good performing malls.
The fear is the BJP may also do the same in the states it is in power such as Rajasthan, or even worse, roll back the reform in entirety if it were to form the government in 2014. The party in the past has threatened to do so.
In 2014, the average size of malls is estimated to be around 380,000 square feet, which is expected to increase to 470,000 square feet in 2015 and further increase to 660,000 square feet in 2017, writes Pankaj Renjhen of Jones Lang LaSalla India.