More mall space will come up in Delhi this year than in suburbs

More mall space will come up in Delhi this year than in suburbs
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First Published: Tue, Feb 20 2007. 02 34 AM IST
Updated: Tue, Feb 20 2007. 02 34 AM IST
New Delhi: Malls in Delhi’s glitzy suburbs, which boast of streets that go by names like “Mall Mile”, are set to face stiff competition from the Capital even as they jostle among themselves for footfalls.
As much as eight million square feet of new mall space will be available in Delhi by the end of the year, according to a new report by property consultancy Jones Lang LaSalle. That’s more than what’s coming up this year in the traditional mall centres of Noida and Gurgaon combined.
The new projects in Delhi include the 1.3 million sq.ft Select Citywalk, MGF’s Metropolitan Mall and DLF’s South Court, all in Saket, and DLF’s Promenade and Emporio, and Ambience Infrastructure’s Ambi Mall in Vasant Kunj, said Vivek Kaul, Jones Lang LaSalle’s head of retail and leisure advisory.
Delhi—until now at least—had few large, quality malls other than the Ansal Plaza and a handful of other centres in east and west Delhi. The new malls are largely coming up after a spate of land auctions by Delhi Development Authority (DDA) in areas such as Shivaji Place, Pitampura, Saket, Vasant Kunj and Dwarka.
Gurgaon is expected to have 5.3 million sq.ft of new malls by the year-end and Noida will see 2.3 million sq.ft, the report said.
But the suburbs could again outstrip Delhi in terms of developed mall area in a couple of years as new projects, including DLF’s four-million sq.ft Mall of India, are completed, Kaul said.
“Gurgaon had actually overtaken Delhi in terms of retail space development when DDA woke up and said we have space available, let’s dispose of it,” Kaul said.
He added that with so much new space coming up in Delhi, Gurgaon and Noida will have to provide something really different to convince shoppers to drive there.
Kunal Banerji, vice-president of marketing and corporate communications at Ansal Properties & Infrastructure, said people these days are less likely to drive long distances for a mall.
“The novelty has worn off,” Banerji said. ”They have seen a mall and have even learned to differentiate between a good mall and a bad mall.”
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First Published: Tue, Feb 20 2007. 02 34 AM IST