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India Needs 55 million Square Feet Grade -A Mall Space Within 2027! In recent years, India’s commercial sector has grown massively. The demand for mall space is also increasing in major cities. A recent report shows that Grade-A malls and high streets across India reached 5.53 million square feet between January 2024 and September 2024. Some major cities like Delhi, Bangalore, Kolkata, Hyderabad, Chennai, Ahmedabad, where the demand for Grade -A mall space is too high. Most people prefer retail locations because they have easy access and high visibility. Urban consumers spend a lot on retail locations. It is noticed already that India will need an extra 55 million square feet of grade-A -A malls by 2027 The reason for increasing retail space demand in India is because growing of global brands with the number of international retails entering India. The retail industry in India is undergoing a transformative phase and the demand is increasing day by day. The main reason after COVID, people also love to shop from outside rather than online. Second, developed infrastructure, luxury building designs, features, and benefits attract more customers to the retail industry. The growing connectivity and infrastructure in the retail sector, shifting consumer preferences. Currently, Delhi is the city where most developers and investors looking to capitalize on one of India’s fastest-growing urban economies. In Urban India, customers select to spend more on discretionary and experimental items, which helps to increase demand for high-end retail space. This sector is also highly optimistic and in the next 5-10 years it will be higher. So, anyone who wants to invest in commercial property or start a new business can invest in the retail sector and start in any major city. #commercialproperty #propertynews #Mallnews #indianretailmarket #RPGestate #gitinsuri
