New Delhi, the capital of India is an epitome
of India's rich and vibrant culture and glorious heritage.
It is surrounded on three sides by Haryana and to the east,
across the river Yamuna by Uttar Pradesh. This strategic
location of Delhi,
with massive economical development in the adjacent National
Capital Region (NCR) has also brought about a significant
economic progress into the city of Delhi. Since Delhi has
historically for long been the foremost in political importance
till the present day, it has significantly seen development
compared to other cities of India.
Delhi is one of the largest real
estate sectors in the country despite its being smaller
in population than other metropolis. This is primarily because
the per capita income in Delhi is much higher than in other
cities. Since the 1990s it has become the number one destination
for all foreign direct investment and many multinational
companies have set up their head quarters in Delhi and adjoining
cities. Its good connectivity with other national and international
cities has also made Delhi a major attraction for global
investors to set up their operations in the city. Delhi
already has one national and one international airport and
a third airport is also under consideration.
Delhi, with its premier educational
institutions attracts students from all over India and
abroad. It has a number of state-of-the-art government and
private colleges offering quality education in the fields
of science, engineering, medicine, arts, law, management
Distribution of Mall space in Delhi
The booming retail industry in Delhi has
brought about a major growth in the real estate sector of
the country. As India opens up FDI in the retail sector,
there has been a conspicuous buzz in the industry as the
Indian brands have a healthy competition ahead as international
brand make their foray into the Indian markets.
This involvement of high-class retailers
has brought about the Mall culture in Delhi.
Delhi has been predominantly a city with the highest per
capita income - which is 2.5 times higher than the national
average. And with MNCs dominating the corporate sector in
Delhi and NCR, high incomes and disposable money have further
accelerated the retail business in the city. Delhi is now
gearing up for the mall revolution with the district centers
like Saket in South Delhi, Mayur Vihar areas in East Delhi,
Vasant Kunj area in South Delhi, Pitampura area in North-west
Delhi and the Janakpuri area of West Delhi having emerged
as the mall destinations of the city.
Some of the prominent malls in Delhi are
Ansals Plaza near Asiad Village, Select City Walk &
MGF Metropolitan at Saket, City Centre Mall, West Gate Mall
& TDI Mall at Rajouri garden, Ambi Mall & DLF Emporio
at Vasant Kunj, East Delhi Mall & Cross River Mall near
Shadhara and Unitech Metro Walk in Rohini.
But the adjoining cities of NCR like Gurgaon,
have revolutionized the mall option like never before.
Compared to the present statistics of 5
million Sq.ft of mall space available in Delhi and NCR,
the next few years are expected to see an additional 17
million sq.ft of retail space in the city.
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