The real estate consultants Knight Frank India said that apart from some localities of Delhi and Mumbai, the retail rentals in other locations will be sluggish for next two years. Although the number of malls and shop space has tremendously increased, the retail still lags behind commercial and residential property.
“Although the outlook looks interesting, builders should take the supply indicators as a word of caution. The reason behind it is that over supply is expected in locations like Pune and NCR”, says National Head at Knight Frank India, Samantak Das.
Retail advisory, Sushil Dunarwala, chief executive of Beyond Square sheet Advisory Pvt Ltd said that the benevolent thing is that builders are still reconsidering their growth strategies in order to avoid further mistakes. Mantri Square, Bangalore which is India’s largest mall and opened in March have a 90% occupancy rate.