New Malls

The slowdown in the Indian realty sector has surprisingly not hampered the development of new malls across the country. India has 570 operational malls (as of May 2013) with a total area of 180 million sq ft compared to just 225 malls that were up and running five years ago, according to numbers collated by a real estate consultancy firm which were shared with TOI exclusively.

The seven metros have 190 operational malls even as more than 60 opened across India in the last one year alone, data from Bangalore-based Asipac Consulting says. And it’s not just the number of malls that has more than doubled since 2008 — the average area of the top 15 malls across the country has gone up 40% (from 6.17 lakh sq ft to 8.66 lakh sq ft) in the last three years.

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