Malls in Mumbai
Mumbai is fast becoming a city where in each and every location especially a suburban
location beginning from Thane, Navi Mumbai, Vashi, Western Suburbs, Eastern Suburbs
etc. there will be a presence of a Mall with the right mix. In suburbs like Mulund,
Bhandup and Kanjur Marg there is already an overflow of Malls which are ready and
also under construction.
Of course the domination of the Malls is felt in Mumbai, but again the present day
buyer is scattered all over the place for shopping. The retail space has become
quiet expensive in the main street and margins trim down as well, but the large
global players are not worried as these stores do not worry them at all but increase
their brand value.
Traditional real
estate firms have learnt to adapt to the changing environment and developers are
now moving into niche segments that only specialize in developing malls.
Planning mall construction is a multi-billion dollar industry, and small players
like Akruti in Mumbai, who have thus far focused on homes, are shifting to specialize
in retail real estate.
Akruti is investing Rs 1,000 crore to build 11 malls of which the first six will
be situated in Mumbai and the other five in Tier II towns.
At present, the retail real estate business is growing at nearly 100 per cent.
Although Akruti currently has a Rs 1,000 crore venture with DLF to fend off competition
from players like Pantaloon and Omaxe, it is also holding talks with foreign investors.
"We will be investing about a billion dollars in retail real estate over next five
to seven years. We will be having it as a solid branch and malls will be a strong
line of business."
"We will not only build them but will also manage insource and outsource. We intend
to make it the bread and butter for the company," said Hemant Shah, Chairman, Akruti
Nirman Ltd.
Akruti has set aside huge land area exclusively for mall development. Half of the
land is already under development, and they plan to develop the entire area over
the next three years.
Real estate prices may be softening for now, but the combination of retail and real
estate seems to be keeping the tempo up amongst the builders and developers.
However, considering that it is a relatively new business in India, the players
will have to learn the tricks of the trade well to make most of the opportunity.
Please
List Your Requirement or
mail us
for further information on buying and leasing in Malls in Mumbai.
| Name of the Mall |
Location |
Approx Size in Sq.ft. |
| Centre One |
Vashi |
125,000 |
| Cine World |
Thane |
100,000 |
| Citi Mall |
Andheri West |
100,000 |
| Cross Road |
Tardeo |
150,000 |
| Cross Road II |
Nariman Point |
60,000 |
| Highstreet Pheonix |
Lower Parel |
500,000 |
| Huma Mall |
Kanjur Marg |
150,000 |
| Infinity Mall |
Link Road, Andheri West |
265,000 |
| Inorbit Mall |
Link Road, Malad West |
450,000 |
| Nirmal Lifestyles |
LBS Marg |
500,000 |
| Raghuleela Mall |
Kandivali West |
400,000 |
| Runwal Mall |
Mulund West |
280,000 |
| The Hub |
Goregaon East |
150,000 |
| Eternity |
Thane West |
200,000 |
| Akruti |
Andheri East |
300,000 |
| Atria Mall |
Worli |
150,000 |
| Bandra Drive IN |
Bandra East |
400,000 |
| Bombay Metal |
Thane |
200,000 |
| Centurion |
Vashi |
400,000 |
| City Centre |
Palm Beach Road, Vashi |
250,000 |
| Evershine Mall |
Malad West |
125,000 |
| Fantasia |
Vashi |
500,000 |
| Grauer and Weil |
Kandivali East |
650,000 |
| Infinity Mall |
Malad West |
600,000 |
| Inorbit Mall |
Opp.Vashi Station |
550,000 |
| Kalpataru |
S V Road, Kandivali |
200,000 |
| Lake City Mall |
Thane |
600,000 |
| Magnet |
Bhandup |
700,000 |
| Mega Mall |
Lokhandwala, Kandivali East |
200,000 |
| Megapolis |
Eastern Express, Thane |
500,000 |
| Milan Dynamix |
Santacruz West |
100,000 |
| Nirmal Lifestyle 2 |
Mulund |
700,000 |
| Oberoi Mall |
Goregaon East |
450,000 |
| Palm Beach Galleria |
Vashi |
250,000 |
| Raghuleela |
Vashi, opp.station |
300,000 |
| Sheth Mall |
Eastern Express, Thane |
500,000 |
| Sheth Mall |
Prabhadevi |
200,000 |
| The Dreams Mall |
Bhandup |
10,00,000 |
| The Dreams Mall |
Borivali |
600,000 |
| The Dreams Mall |
Vashi |
500,000 |