Realtors are actively acquiring land parcels to develop retail projects in Tier 2 and 3 cities, with a projected 25 million sq. ft of retail space set to be added in the next five years. A report by JLL highlights that North India leads the upcoming mall supply, accounting for 44%, with key cities like Ludhiana, Jaipur, and Lucknow driving growth. Southern India follows with 30% of the supply, focusing on cities such as Coimbatore, Mallapuram, Thrissur, and Trivandrum. The Eastern region will add 4.5 million sq. ft, led by Guwahati, while West India sees retail growth in cities like Goa, Surat, and Ahmedabad. The surge is driven by increasing consumer demand, land availability, and the need for high-quality retail developments.
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Note: The above-mentioned news was first published by us in our ProjectX India | 15th October 2024 edition.. Get this issue or any of our editions by clicking here…
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