TRANSFORMING INDIA’S RETAIL REAL ESTATE LANDSCAPE
The growth of modern retail has been parallel to the development of shopping malls in India. The journey that began with just two malls in 1999 has been rapid and eventful. By 2005, India had around 50 malls, which rose to around 250 by 2010.
India has seen the opening of some 570 malls till date, of which about 100 have either closed down or have stopped operating due to some reason or the other. As of 2013, India had 470 operational malls, which together hold a Gross Leasable Area (GLA) of more than 128 million sq. ft, as per the Malls of India report published by IMAGES Group.
In the last couple of years, a rapid transformation of the Indian retail landscape has been witnessed in terms of both technological advancement and consumer preference. Online retail has made a big bang entry and witnessed exponential expansion. However, shopping centres that are more like lifestyle destinations and shock-and-awe with their sheer space, continue to be popular consumers’ mind. Here’s a look at the five biggest shopping malls in India based on their total built-up area and gross leasable area.
DLF MALL OF INDIA, NOIDA
The newest edition in India’s retail real estate, DLF Mall of India is positioned as the first destination mall of the country. Spread across a retail space of 20 lakh sq.ft. of GLA, the mall is divided into five zones — Marketplace, International Boulevard, The High Street, Family World and Leisure Land — spread over seven floors.
Developed by: DLF Group Ltd
Launch: February 2016
Developed by: DLF Group Ltd
Total built-up area: 27 lakh sq.ft.
Total GLA, retail area: 20 lakh sq.ft.
Total no. of stores operational currently (excluding kiosks): 250
LULU MALL, KOCHI
Built at an approximate cost of Rs.1600 crores, Lulu Mall, Kochi can easily accommodate over 100,000 people at a time. The mall houses more than 320 national and international brands and over 215 outlets; a massive amusement area of 81,000 sq ft with facilities for indoor climbing wall, a 5000 sq ft ice skating rink, a 5D Cinema, arcade gaming zone, rides, party hall, a 12-lane bowling alley, a 9-screen multiplex that can accommodate more than 2000 people at a time; a 1500-seater food court and much more.
Developed by: Lulu Group
Launch: March 2013
Total built-up area: 25 lakh sq.ft.
Total GLA, retail area: 14 lakh sq.ft
Total no. of stores (excluding kiosks): 215
AMBIENCE MALL, GURGAON
Ambience Mall, is an apogee of lifestyle distinction, it offers not only unprecedented scale in terms of its size but also an experience of unparalleled retail mix combined with the entertainment and leisure attractions that has changed the concept of shopping mall experience.
Developed by: Ambience Developers & Infrastructure Pvt Ltd
Launch: October 2007
Total built-up area: 21 lakh sq.ft.
Total GLA, retail area: 18 lakh sq.ft.
Total no. of stores (excluding kiosks): 250
HIGH STREET PHOENIX, MUMBAI
High Street Phoenix is the first retail led consumption centre developed in India over a sprawling 20 lakh square feet. It houses over 500 brands including a variety of F&B, entertainment, commercial and residential complexes. It houses three distinct shopping zones — Skyzone, Grand Galleria and Palladium.
Developed by: The Phoenix Mills Co Ltd
Launch: May 2001
Total built-up area: 20 lakh sq.ft.
Total GLA, retail area: 10 lakh sq.ft.
Total no. of stores (excluding kiosks): 230
MANTRI SQUARE, BENGALURU
Mantri Square is Bengaluru’s one stop entertainment and shopping destination. Located on No. 1 Sampige Road, Malleshwaram, the retail centre has 250 retail outlets offering a choice of over 10,000 brands and over 38 categories to the shopper. It is the only retail centre in South India to have five department stores: Lifestyle, Marks & Spencer, Reliance Trends, Pantaloons and Shoppers Stop — under one roof.
Developed by: Mantri Developers Group
Launch: March 2010
Total built-up area: 17 lakh sq.ft.
Total GLA, retail area: 8.9 lakh sq.ft.
Total no. of stores (excluding kiosks): 250
