Half of the malls in Delhi-NCR are vacant, says Assocham
Press Trust of India: New Delhi, Dec 31 2012, 20:25 IST
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 It said that construction of several malls have significantly been delayed and withdrawn due to lukewarm response from retailers.
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