Retail sector of Hyderabad shows growth
Hyderabad- The retail sector of Hyderabad has picked up speed with the existing malls doing good business and launch of new malls.
The retail sector of Hyderabad has gained momentum specially in areas like Madhapur and Gachibowli with Outer ring road offering good connectivity. JNTU-Hitech city highway in Kukatpally will soon have a new mall in March or April 2013.
This new mall including multiplex covering area of 4.5 lakh sq ft will be build by Manjeera group. According to sources , 50-60 percent of the retail spaces have already been leased out which is sounding a good news to promoters of commercial projects in Hyderabad. The retail rentals in Hyderabad ranges from Rs 100 – Rs 120 per sq ft per month.
Due to improved connectivity offered by Kukatpally, it is assumed that an additional 2.5 million sq ft of retail space would come. This area will soon be referred as retail hub due to Himayatnagar and M G Road. Recently Lanco group launched their Mega Mall at Lanco Hills SEZ in November 2012. Prestige group is also planning to launch their new mall near Kukatpally.
The leasing activity of the Mega Mall started in Dec 2012. Due to less availability of mall space, high streets dominated the leasing activity and the vacancy level in the existing malls remained same.
The major transactions reported in November 2012 are CCD Lounge leasing space in Madhapur, CCD leasing space in Banjara Hills, Khazana Jewellers leasing space at Dr. A S Rao Nagar, Dominos’ leasing space in Jubilee Hills, Towlichowki and S P Road. During this period of time, growth in demand of space increased which resulted in nominal increase of rental values at high street locations.
NCR realtors observe demand-supply mismatch in retail sector
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