Mall Space Rentals in Gurgaon

With increasing recognition of malls in Gurgaon as the umbrella of big brands, the drive occupancy or consumer footfalls are also increasing day by day. Ten years ago there was not even a single mall in India: whereas today it is anticipated that towards the end of 2006, India would be having more than one hundred operational malls.

In last months the largest mall to be announced in India is DLF's Mall of India along NH-8 in Gurgaon that will be spread over 3.6 million sq. ft. but after that Emaar MGF is planning to build India's largest mall, the announcement for which will be made in the next six months. Currently on the drawing boards, the mall will ape the world's largest mall (spread over 5.8 million sq. ft.) being built by the compan’s partner (Emaar) in Dubai.

A few years ago the rent of malls in Gurgaon, had gone down to Rs.80 per sq ft per month but today its sky-rocketing with prices like 150-160 per sq ft per month. The real estate residential prices are touching the sky after the success of these malls and the prices have increased from Rs.1200 per sq.ft to Rs.4000 per sq.ft. Big builders like DLF and Unitech are also coming up with amazing projects after witnessing such a positive response of public for malls.

Even the small time builders are now interested in making small malls and lending their most of the part on rent. Because of the increased commercial demand the mall space rentals in Gurgaon have increased by almost 60% in the past two years. One very significant fast fact about malls in Gurgaon is that return through rent on the investment in malls is highest among all segments like residential and office space.

Compared to all the mall-cities around the world, mall rentals in India are quite high. It is because of couple of reasons like the existing regulatory policy and operations of too many speculative investors in the industry. The retail space in malls of Gurgaon is undoubtedly going astronomical. The rent rates in the malls of Gurgaon are touching an average of Rs.400 to Rs.500 per. Sq. ft., which has to be around 75-Rs 100 per sq. ft. These rates mentioned are excluding the common area maintenance.

Theme Malls or Specialty malls is the new trend adopted by the promoters and developers of the mall culture so as to create a niche among the clutter of malls. As per the business strategy, developers are focusing on developing theme malls thereby, increasing footfalls in the malls. A few other concept malls are also coming up in Gurgaon in the coming days like the 'Wedding Malls' which definitely will offer new opportunities for mall space rentals in Gurgaon.

Source: space-shop-now.blogspot.com