Half of the malls in Delhi-NCR are vacant, says Assocham

Written by Press Trust of India | New Delhi | Updated: Jan 1 2013, 01:55am hrs
Over half of the total number of malls in the Delhi-NCR region are vacant due to reasons like economic slowdown, poor designing and lack of robust revenue generation model, a survey by Assocham has said. The total rate of vacancy in malls in Delhi-NCR is 55%, while in Mumbai it is 52%followed by Ahmedabad (51%), Chennai (50%), Hyderabad (48%), Bangalore (45%), the chamber said. It said that construction of several malls have significantly been delayed and withdrawn due to lukewarm response from retailers.