The organized retail players plan to penetrate in cities such as Chandigarh, Pune and Hyderabad with a major share of investments worth Rs 27,550 crores, as per Assocham reports.
Hyderabad has a million square feet of retail properties under construction. And it is expected to cross three million in the next two years. Reasonable property prices made Hyderabad to get some of India's biggest names in retail investments.
With real estate booming in the city, both in residential and commercial property development, the herd is heading towards constructing malls. There are around 15 malls slated to come up in and around the city in the next few months to a year. Some of the big names include the GVK One Mall in the upmarket Banjara Hills and MPM Mall in the same area.
National level players are very aggressive to move to Hyderabad. Over the last quarter, the city has witnessed over half a million square feet of transactions. All of which, has been leased out to FMGCs. That is the super store, super market and fresh produce big players involved in this are Reliance Retail, Landmark's Retail, IVRCL, Lanco, and GVK Raheja (In-orbit). The big names have big plans. Reliance retail will put up a few more supermarkets and Landmark's Max retail will set up its first hypermarket here.
Property consultants say more than 120 national brands are expanding and looking for mall space in Hyderabad. But all this has not sent retail property prices escalation. It is not true that there is an oversupply of space. In fact, many of the malls are not planned correctly by developers. Moreover, most of them do not have a good understanding of the economics of the tenants' business and pricing them accordingly and Hyderabad has sprawling tracts of land available for green field construction Prices have risen just 15% over the past year and experts believe they will rise less than 30% in the next year.
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