India will see Huge Growth Spurt in Malls by the End 2010

Mumbai (PTI): Real estate developers, eager to meet increasing demands, could produce more than 100 malls spread over 30 million square feet in the country by the end of 2010, a report says.

“Between now and 2010, an additional 31,846,504-square feet of mall space will be created across India through just over 100 new shopping centres,” findings from a report titled ‘Mall Realities India 2010′, said. Of all the malls to be added, India’s north zone is in the lead. West Zone is the second-most prolific region in terms of additional projected mall supply.

“Interestingly, while most mall projects in North, West and South Zones are in and around Tier II cities, in the East, the majority of developments are to open in or around West Bengal’s capital Kolkata,” the findings said.

The list of mall openings planned in this time period are located across metros, mini-metros and Tier II towns, including in Delhi, NCR, Mumbai, Pune, Aurangabad, Raipur, Bangalore and Siliguri, just to name a few.