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.|
Mall Name |
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 |
|
|
|
|
Malls Under Construction
|
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 |
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 |
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.
