New supply of retail real estate space is expected to rise 43 per cent across seven major cities by 2027 as developers are expanding their business amid strong revival post COVID pandemic, according to JLL India.
Real estate consultant JLL India on Monday released its report 'India Retail: Evolving to a new dawn' that highlighted the operational retail real estate space in shopping malls stood at 89 million square feet.
The operational retail stock as of H1 2023 in the top seven cities (Delhi-NCR, Mumbai, Pune, Bengaluru, Kolkata, Chennai, and Hyderabad) stands at 89 million square feet as of June-end this year.
Out of the total retail stocks in malls, Delhi NCR has the maximum 28 million square feet, followed by Mumbai with 17 million square feet and Bengaluru 14 million square feet.
"The physical retail space segment has an expected supply pipeline of over 38 million sq ft of retail developments between H2 2023 and 2027, across the top seven cities," JLL said.
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