Mall : A Multiplex boom

A public walk-in is what the Mall, literally means. From time memorable junction at arterial roads streets have been a gathering place for people, gatherings brought in markets, flee markets which are now in modern times known as malls. Though US/UK is largely responsible for the development of Malls, this has spread all over the globe. And now big metropolitan cities in India are just ripe to welcome this Mall Idea. Chennai, Mumbai and New Delhi were the only cities to boast for developing Malls.

Though Malls are usually centralized (i.e.) hub of a city or town, the rising of suburban residential areas have opened up vast opportunities for Mall developers to flex this business ventures into the suburbs.

Feasibility of a mall or making a mall more consumer friendly depends upon the catchment area, customer for footfalls tenants / anchor tenants, right type of entertainment and entertainment options. An eye-catching foyer of a mall can do wonders for the recovery of investments India is a country of various festivals unlike any other country. An attractive foyers with festival feasts can get a lot of business done.

A mall proprietor has to very carefully place his tenants / anchor tenants. Attracting consumers of high socio-economic profiles should not be the only ones on the agenda. People in India are family oriented. Thus families form biggest shopping segments varied entertainment avenues are to be insured to attract this segment.

Impressive foyers/lobbies add to influx of consumers. Like earlier mentioned India is a country of festivals, eye-catching decoration for festival feast with attractive purchase offers are sure to poke even the deepest pockets. Big-Wigs name like Nike, Lacoste, Cartier, Cambridge, Double Bull, Van-Huesen, Excalibur and to name a few more cater to a more socio-economic profilers. Price-conscious shoppers have also to be catered to, and they are the ones who form a large segments of buyers. A bouquet of tenants is what, must be offered.

Volume of land/site for mall is a factor which plays an important role in the feasibility of this project. Volume of land/site decides the investment factor. And subsequently the return on investment (ROI) Period of construction and then function is a matter of consideration for the ROI. This happens after a time as sales at the malls / or multiplex start to stabilize.

India is now all set and ripe for Malls to be introduced the cities, Chennai, Mumbai and New Delhi already have malls namely, Spencer in Chennai, Crossroads in Mumbai and Ansal in India, Bangalore and Calcutta are slated to be the other to cities to have malls. Mumbai as usual being the trendsetter in economic sense leads the field.21 Global style shopping malls are about to spring around the country. Rs. 375 crore investment ventures is to be shared by 15 cumulative investors. 40 lacs sq.ft. to 70 lacs sq.ft. of space will be occupied by these gigantic Malls.

Now this is something to mull about. Mumbai will be enjoying a lion share in this upcoming Mall culture. 7 new malls have been planned across Mumbai, Nariman Point by Piramal Holdings, Landmark (IT Developers; S.Kumar Group at Worli Naka, Mumbai, K.Raheja Group (in the offing) New Link Road, Malad, developers ; K.Raheja Group, E-CITI, Chembur or Andheri developers; Zee Group. Gammon India, Mumbai, Hiranandani Group Powai Mumbai Atul Ruia, Lower Parel (Phoenix Mills). The Mall Culture is sure going to be the hottest related format.