Vishvakarma group, Historical place museum in Verul, India

Driven largely by rising consumption, the rebound in the Indian retail market has been exemplary in 2022 which is favourably impacting retail real estate across the country, finds a joint report by real estate consultants ANAROCK and Retailers Association of India (RAI). Buoyed by the growth, developers now plan to add nearly 25 Mn sq. ft. of new mall space across the Top 7 cities over the next 4-5 years, finds the report titled 'India Retail Real Estate: REvived, REshaped, & REinforced' . The report was released at the Retail Leadership Summit 2023, where ANAROCK was knowledge partner.- NCR & Hyderabad account for 46 per cent of total new upcoming supply, closely followed by Bengaluru at 19 per cent- In 2022, the top 7 cities added 2.6 Mn sq. ft. of mall space - increasing by 27 per cent against 2021- Bengaluru & Hyderabad were the only cities with new supply addition in 2022- Rentals in malls appreciated by nearly 15 per cent, is higher than the pre-pandemic levels- The retail sector attracted around USD 1,473 Mn b/w 2019 - 2022- The share of organised retail doubled - from 9 per cent in FY19 to 18 per cent presently, growing at a CAGR of 20 per cent- Online retail market in India is approx. 25 per cent of total organised retail market, likely to be over 37 per cent by 2030NCR and Hyderabad account for nearly 46 per cent of the total new upcoming supply, closely followed by Bengaluru at 19 per cent.Back in 2022, the top 7 cities added over 2.6 Mn sq ft of mall space which was 27 per cent more than the preceding year (2021)."The festive season, devoid of restrictions and any fear of the contagion, was exemplary with record high volumes and sales value," says Anuj Kejriwal, CEO & Managing Director - ANAROCK Retail. "Sales value estimated during the festive season in late 2022 was Rs 2.5 Lakh Crore, nearly 2.5 times compared to the previous year. The revival of consumer sentiments and penchant for consumption is therefore being promptly acted upon by the majority of brands, retailers, and mall developers. The new planned mall supply across the top 7 cities is testimony to the developers' expansion strategy.""Further, the retail market size is expected to touch USD 2 Trillion by 2032, growing from USD 690 billion in 2021, facilitating the organised retail sector to grow at 25 per cent CAGR."Kumar Rajagopalan, CEO, the Retailers Association of India (RAI), says, "The report also highlights that the Indian retail sector attracted around USD 1,473 Mn between 2019 and 2022, of which 76 per cent of total investments came in 2019 itself. Among the cities, Hyderabad and MMR accounted for nearly 40 per cent of the total PE investments in the sector.""Data further indicates that back in 2022, the top 7 cities added nearly 2.6 Mn sq. ft. of mall space during 2022, which increased by 27 per cent over the previous year (2021)," says Rajagopalan. "Among the cities, Bengaluru and Hyderabad were the only cities which saw new mall supply addition during 2022."Presently, the top cities have over 51 Mn sq. ft. of mall stock across the country with NCR, MMR, and Bengaluru accounting for 62 per cent of the total stock.In terms of avg. rentals in malls, these appreciated by nearly 15 per cent in 2022 over the previous year, thus reaching higher than the pre-pandemic levels. Bengaluru registered the highest uptick in rentals of around 27 per cent, followed by Kolkata at 20 per cent in 2022 over the previous year.Other Major Highlights- As per industry estimates, the e-retail market is anticipated to reach USD 120-140 Bn by FY26, increasing at 25 per cent-30 per cent annually over the next five years.- The sales volume of the organised retail segment in FY22 was estimated to be USD 52 Bn and is estimated to grow to USD 136 Bn by 2028 with a CAGR of 17 per cent.- Currently, a high degree of integration of physical and digital is taking place to provide an interactive and all-inclusive experience.Download the report 'India Retail Real Estate: REvived, REshaped, & REinforced' .This story has been provided by NewsVoir.will not be responsible in any way for the content of this article. (ANI/NewsVoir)( With inputs from ANI )Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Vishvakarma GroupFOLLOW

Vishvakarma group, Latest News

New Delhi, Feb 23 Battlegrounds Mobile India (BGMI) game developer Krafton, which saw its popular game being banned ... ...

New Delhi, Feb 23 A massive 95 per cent of WhatsApp users surveyed in India indicate that they ... ...

Mumbai (Maharashtra) [India], February 23: Speaking at the launch, she said, “This is my attempt at a DIY book for ... ...

New Delhi (India), February 23: Pooja movie Creation is a well-known company coming up with a Health Care products business, ... ...

Nex News Network covers the successful 2nd Edition of MAG World Expo Mumbai (Maharashtra) [India], February 23: Wednesday, February 15, ... ...

India logged in 125 new COVID-19 infections in the last 24 hours, according to data reported on February 23 ... ...

The Supreme Court on Wednesday refused to stay the Election Commission's decision to give the party name "Shiv Sena" ... ...

Driven largely by rising consumption, the rebound in the Indian retail market has been exemplary in 2022 which is favourably impacting retail real estate across the country, finds a joint report by real estate consultants ANAROCK and Retailers Associ ...