Mumbai, Sept 3: Entertainment and leisure is dictating the way real estate is being developed in the country's metros. Renowned coporates like S Kumars, Piramals and the RPG Group, which have factories and excess office space, are developing land into superstores, health care clubs, entertainment centres like go-karting and rock climbing joints, shopping malls, and cinema houses.The quarterly report published by property consultants Brooke International quotes a study conducted by retail consultants, KSA Technopak, as saying that the entertainment industry is headed for a boom with revenue projections being pegged at Rs 65,000 crore by 2005. For the first time, large tracts of land in Mumbai are being transformed into entertainment centres. An entertainment centre in the city's western suburb of Santacruz has introduced the 'Lazer Tag' game. Landmarc City, a 400,000 square feet entertainment complex at Worli will offer go-kartiung and rock climbing that is currently only available at the Hiranandani complex at Powai. The concept of healthcare is also adding its own kind of development patterns to real estate. The 35,000 square feet health club coming up on Hill Road, Bandra another of the city's suburbs, will offer a variety of facilities like gymnasia, tennis and squash courts, steam suana, jacuzzi etc.
In Delhi, trendy eating joints are dotting the landscape -- Basant Lok has emerged as a bustling entertainment centre after the opening of the Priya cineplex, with outlets like TGIF, McDonalds, Pizza Hut and Barista Coffee also being housed in the complex. Department stores and mini shoping malls like Ebony, Saboos, Big Jo's have also gained popularity.
Leading brands are dictating land development patterns in Bangalore too. The city has the maximum number of supermarket chains in India, with supermarket majors like FoodWorld, Health & Glow, Viveks, and Uday Home World having a presence in the garden city. A maximum number of transactions are based on lease or franshisee arrangements. The retail and leisure sector in Hyderabad is also growing at a tremendous pace with almost all the retail brands in the market having a presence accoding to Brooke international's study. The Dubai-based chain "Lifestyles" chain of stores has taken up 45,000 square feet of space called 'My Home Tycoon' in a building in Begumpet. Retail chains like ABC Cafe, Coffee Day, Health & Glow have recently also set up operations in the city. Banks like Standard Chartered, ABN Amro and Nova Scotia Band are looking out for space. u in suitable locations in the city.
The other new concept that is gaining popularity is the utility of excess space at petrol pumps to set up supermarkets, car accessories, stores, fast food outlets or ATMs. Banks like ICICI Bank and HDFC Bank have become aggressive in acquiring space for ATMs.
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