Indian Retailers Bullish on Acquiring Land for Mall Development

April 3, 2007	(2 votes, average: 2 out of 5)  Loading ...
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India is all set to upturn milestones in retail sector and promoters struggle to find more of available retail space. A number of established retailers are jostling hard to acquire large chunk of properties available in the outskirts of Kolkata as the city faces lack of retail space.

This has brought some prominent names before such as RPG Enterprises, a firm looking for land in Siliguri, Jalpaiguri, and Durgapur in West Bengal to establish Spencer’s stores in different formats.

The company is scouting for the properties ranging from 1500 sq. ft to 50,000 sq. ft for the development of five of Spencer’s formats – Daily, Super, Express, Fresh, and Hypermarkets. Interestingly, tier II towns and cities are also coming up with excellent business prospects and seem to adopt the mall culture soon.

Close by the heels is Pantaloon Retail (India), which is too searching for space in eastern India to develop Pantaloons and Big Bazaar stores in the cities like Guwahati and Agartala. The company will also set up stores in Chattisgarh, Jharkhand, and Ranchi of eastern India.

Pantaloons is also scouting for properties to set up stores this year in Kharagpur, Siliguri, Burdwan, Asansol, and Darjeeling. The company would also come up with three more shopping stores in Kolkata in 2007, in South City, Rajarhat and Howrah, of approximately 60,000 sq ft each.

News Published Under:   Real Estate India |

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