India Real Estate Essay example

3398 Words Jan 12th, 2013 14 Pages
What is your take on the recent trend of 'million sq.ft. malls' where every second developer wants to make one of the biggest malls in India? Do you support this trend?

I support this unprecedented wave of million sq ft mall as with multiple demands on limited time, shoppers carefully choreograph their shopping trips. Mn sq ft size and prominence means that, for good or ill, these malls have a significant impact on a place and its character There is growing acceptance that as long as Big malls are well designed ,made, leased , and suitably located, they can accelerate retail growth in our country In broader perspective Million sq ft malls are signs of growing economic development and prosperity and the desire of the investor and
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Demographic and economic pressures in India and the core cities are likely to result in more proposals for Big malls. But of course not every scheme that gains permission will be built. If builder , retail community and local authorities put in place robust financial module , and take advantage of the opportunity available to them, the big malls that do get built should be well designed assets for their city and will not only sustainable but will add in a smaller way but will definbetly add value to region .

What impact this trend is going to have on the retail real estate industry?
It will impact all stake holders i.e. shoppers, retailers, government .For shoppers In years past, a trip to the mall, even for some basic shopping, often meant a serious commitment of time – because one would often be stuck in traffic and have to search for a parking space – and then face a lack of choice in terms of both products and brands in small malls this new retail space in Mega malls centers will definitely address these issues
For developers better mass transit infrastructure, particularly the MTRO / sky train, , will make it much easier to get around the city. Higher density and more up market residential developments across the city have created new catchments supporting the viability of Big malls. Finally for

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