Retail sector in Delhi has moved ahead, shedding off its traditional image and evolving into a more shopper-centric destination, especially in West and North Delhi. Brix Research surveys the scene
Retail sector has made a paradigm shift from being a row of shops located on the roadside to moving into showrooms in a four-walled structure. The "Mall culture" has given an extra edge to retail market. It took some time in the beginning for people to accept and adapt to the emerging culture, but gradually, shopping is now all bout a mall experience.
With change in shopping pattern, most consumers look for a more efficient and serviced shopping experience. Trends are changing, and now, nobody wants to roam around under a scorching sun and hop shops to purchase assorted items like groceries, toiletries and clothes, each from a different shop. Today, people want one-stop shopping where they find everything under one roof.
There are a few areas in Delhi whose profile has changed drastically after the advent of shopping malls and shopping complexes, like Rajouri Garden, Pitampura, Wazirpur, Rohini and Shalimar Bagh.
Malls spree — Rajouri Garden
Rajouri Garden in West Delhi is one of the busiest mall hubs. With five functional malls - Lifestyle, TDI, City Square, West Gate and Paragon Mall - the place is jam-packed on weekends and one can have a torrid time hunting for parking space near these complexes.
Santosh Kumar, a property dealer in West Delhi, says: "Earlier, in 2006-07, these malls were lying vacant and there were hardly any footfalls. But now, they have become very popular and receive a large number of footfalls."
Nisha Kapoor, a resident of Rajouri Garden, says: "I used to shop from Rajouri Garden's local market till 2006, but now I shop in only malls. It is actually very convenient to do shopping inside a mall and I also get a chance to meet friends as we can spend time together in food court."
Malls have changed lifestyle, thinking and shopping pattern of consumers. This has also increased commercial and residential values in Rajouri Garden. Another factor going in favour of these malls is connectivity - Rajouri Garden is on the Metro line, enabling people from other parts of Delhi to travel here easily.
Emerging shopping hub — Shalimar Bagh
Shalimar Bagh is the other area in North Delhi that saw a similar transition in retail sector. Commercial market of Shalimar Bagh was inactive and there was no popular shopping hub before the launch of malls. Then, two new shopping malls, DT City Center of DLF and Shop in Park of BPTP, came up and gave the area a feel-good factor.
According to Brix Research Vacancy Report, vacancy in the malls has been constantly decreasing from the time of opening with current occupancy at 70-75%. The number of footfalls has also increased and the malls have attracted residents of Shalimar Bagh and nearby areas like Ashok Vihar, Lawrence Road, Model Town and Wazirpur.
Pradeep Kumar, a local property dealer, says: "The DLF DT City Centre mall has started doing good business and is witnessing a decent amount of footfalls. Earlier, the mall was lying vacant owing to a slowdown in property market, but for the past 6-8 months, its occupancy is rising and is doing average business. This has also increased commercial and residential property values of the area."
Chain of developing malls — Rohini & Pitampura
A similar trend was seen in Rohini, where there are approximately eight malls in pipeline. Out of them, four are operational and rest are under construction. The malls which have opened are Metro Walk, North-Ex Mall, PVR Prashant Vihar Mall and Vikas Surya Mall.
According to the Brix report, vacancy in shopping malls, have continued to decrease from 2007 to 2009 in Rohini. Sajeev Kumar, a local realtor, says that malls in Rohini have developed and the number of footfalls has also increased. The commercial and residential values of Rohini experienced 15-20% increase over the last two years with these malls up and running.
Usha Kapoor, a resident of Rohini, said the coming of malls has given a new identity to the place and residents feel they are living in a high-end locality.
Wazirpur and Pitampura are the others areas where malls have played a major role in changing the areas' profile and in diverting population. Pitampura's malls like M2K Pitampura, North Square Mall, Aggarwal City Mall and Movie Time have attracted people from neighbourhood areas for shopping and dinning. A few malls are still developing and are not yet fully occupied; but it is expected by market agents that once market recovers from slowdown impact, all these malls will to do good business.
While malls have changed shopping style and demand of consumers, this has also given way to international brands to set up their showrooms in India. They have increased popularity as well as real estate values of the area as found by Brix Research analytics team.
Courtesy:- Times Property dtd:- 06-02-2009
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Saturday, February 13, 2010
Of malls, amusement parks and the Delhi Metro
Brix Research
narrates how enhanced connectivity has helped entertainment destinations across NCR
Transport corridors like expressways and the Metro line are bringing an increasing number of people closer to entertainment hubs. To that extent, they trigger growth of formal means of entertainment. One major development witnessed in National Capital Region (NCR) over the last 4-5 years has been the expansion of Delhi Metro line. This process started in Central and Western parts of the city and is now on course to link South Delhi and Gurgaon. This has provided common man with a mode of transport that is both economical and convenient. While daily journeys like the ones to college or workplace have been simplified - the occasional weekend outing too has been made much simpler as a result of enhanced connectivity to popular entertainment destinations.
One of the first entertainment destinations, which is strategically located near Rohini Metro Station, was launched by Unitech. This project was launched prior to the completion of the Metro line and has been fully operational since December 2007. It comprises Adventure Island - an amusement park and the Metro Walk Mall. According to Rajan Narula, MD of Unitech Amusement Park, "The expansion of Delhi Metro gives us reason to be very optimistic about future of our projects in Rohini, especially Adventure Island. While the city is dotted with malls and retail spaces - this is one of the few amusement parks and hence we expect a significant increase in footfalls upon extension of Metro line to South Delhi and Gurgaon, as distance will no longer be a prime consideration." He further adds, "Currently, 18-20% of our customers use Metro and they mainly comprise residents of North and West Delhi. While Adventure Island does draw some South Delhi residents - this figure is expected to go up in the near future."
Entertainment destinations in Noida are well known and attract residents from all regions of NCR. Prominent among these are Unitech projects - The Great India Place Mall and Worlds of Wonder amusement park - Great India is touted to be the largest mall in North India. These have been operational since September 2007.
November 2009 saw extension of Metro line to Noida, and its impact is there for everyone to see. According to Narula, "Earlier, while our consumer base comprised residents of East Delhi, Noida and Greater Noida, the expansion of Metro line has brought students from North Campus, as well as families from other parts of the city. Hence, we are very optimistic about future prospects after the extension of Metro to South Delhi."
The extension of Metro line to Gurgaon will further enhance connectivity within NCR. Residents of Gurgaon will be able to access entertainment destinations in the rest of NCR and vice versa. However, according to Narula, "Entertainment destinations in Gurgaon comprise mainly malls and multiplexes, which are now aplenty in other parts of the city. These days, a major portion of the footfalls comes from within a 5-6km radius around the mall." Hence, while Metro is expected to increase footfalls, percentage of population coming from regions outside Gurgaon will be small.
Entertainment options may also include theatre and art, which have been growing in popularity among Delhi's population over the last decade. According to S P Mishra, manager of Kamani Auditorium, "Delhi is witnessing a cultural shift and interest in theatre and other cultural shows is growing. The audience at Kamani Auditorium has grown over the past eight years and improvement in city infrastructure like extension of Metro line can only benefit people. Moreover, problems of parking faced on Copernicus Marg could be eliminated by using Metro rail." He further adds that their audience comprises both students, as well as the elderly, who may not possess their own vehicles and thus would benefit greatly from extension of Metro line.
Expansion of metro line is expected to increase connectivity and greatly reduce travel time within National Capital Region. Problems like traffic congestion and lack of parking space may be eliminated through usage of Metro rail services. Moreover, as population becomes more mobile, an increase in the number of entertainment spots like parks, theatres and malls is expected. While malls and multiplexes draw crowds from neighbouring localities, theatres and amusement parks, being rare, attract people from all over.
Courtesy:- Times Property dtd:- 06-02-2009
More information: about Real Estate,Real Estate india, property,
http://www.zameen-zaidad.com/
http://www.propertycafeteria.com/
narrates how enhanced connectivity has helped entertainment destinations across NCR
Transport corridors like expressways and the Metro line are bringing an increasing number of people closer to entertainment hubs. To that extent, they trigger growth of formal means of entertainment. One major development witnessed in National Capital Region (NCR) over the last 4-5 years has been the expansion of Delhi Metro line. This process started in Central and Western parts of the city and is now on course to link South Delhi and Gurgaon. This has provided common man with a mode of transport that is both economical and convenient. While daily journeys like the ones to college or workplace have been simplified - the occasional weekend outing too has been made much simpler as a result of enhanced connectivity to popular entertainment destinations.
One of the first entertainment destinations, which is strategically located near Rohini Metro Station, was launched by Unitech. This project was launched prior to the completion of the Metro line and has been fully operational since December 2007. It comprises Adventure Island - an amusement park and the Metro Walk Mall. According to Rajan Narula, MD of Unitech Amusement Park, "The expansion of Delhi Metro gives us reason to be very optimistic about future of our projects in Rohini, especially Adventure Island. While the city is dotted with malls and retail spaces - this is one of the few amusement parks and hence we expect a significant increase in footfalls upon extension of Metro line to South Delhi and Gurgaon, as distance will no longer be a prime consideration." He further adds, "Currently, 18-20% of our customers use Metro and they mainly comprise residents of North and West Delhi. While Adventure Island does draw some South Delhi residents - this figure is expected to go up in the near future."
Entertainment destinations in Noida are well known and attract residents from all regions of NCR. Prominent among these are Unitech projects - The Great India Place Mall and Worlds of Wonder amusement park - Great India is touted to be the largest mall in North India. These have been operational since September 2007.
November 2009 saw extension of Metro line to Noida, and its impact is there for everyone to see. According to Narula, "Earlier, while our consumer base comprised residents of East Delhi, Noida and Greater Noida, the expansion of Metro line has brought students from North Campus, as well as families from other parts of the city. Hence, we are very optimistic about future prospects after the extension of Metro to South Delhi."
The extension of Metro line to Gurgaon will further enhance connectivity within NCR. Residents of Gurgaon will be able to access entertainment destinations in the rest of NCR and vice versa. However, according to Narula, "Entertainment destinations in Gurgaon comprise mainly malls and multiplexes, which are now aplenty in other parts of the city. These days, a major portion of the footfalls comes from within a 5-6km radius around the mall." Hence, while Metro is expected to increase footfalls, percentage of population coming from regions outside Gurgaon will be small.
Entertainment options may also include theatre and art, which have been growing in popularity among Delhi's population over the last decade. According to S P Mishra, manager of Kamani Auditorium, "Delhi is witnessing a cultural shift and interest in theatre and other cultural shows is growing. The audience at Kamani Auditorium has grown over the past eight years and improvement in city infrastructure like extension of Metro line can only benefit people. Moreover, problems of parking faced on Copernicus Marg could be eliminated by using Metro rail." He further adds that their audience comprises both students, as well as the elderly, who may not possess their own vehicles and thus would benefit greatly from extension of Metro line.
Expansion of metro line is expected to increase connectivity and greatly reduce travel time within National Capital Region. Problems like traffic congestion and lack of parking space may be eliminated through usage of Metro rail services. Moreover, as population becomes more mobile, an increase in the number of entertainment spots like parks, theatres and malls is expected. While malls and multiplexes draw crowds from neighbouring localities, theatres and amusement parks, being rare, attract people from all over.
Courtesy:- Times Property dtd:- 06-02-2009
More information: about Real Estate,Real Estate india, property,
http://www.zameen-zaidad.com/
http://www.propertycafeteria.com/
Wednesday, February 3, 2010
3 Bedroom multistory apartments for sale Rs. 3660000 in sec – 106 Gurgaon
Type- Group Housing
Sector 106, Gurgaon,
Price – Rs. 3660000 *
Description - Spire Central, 3 Bedroom multistory apartments for sale @ Rs. 3660000 in sec – 106 Gurgaon, 15 minutes from Delhi International Airport, A short drive from MG Road, the high-street of Gurgaon, Adjacent to a thriving neighbourhood with world class schools, universities, hospitals and malls in the vicinity, Very close to upcoming Dwarka-Gurgaon Expressway connecting West Delhi to Gurgaon
Location Advantages:-
• Strategically located on the upcoming Dwarka-Gurgaon Expressway connecting West Delhi to Gurgaon
• On the Metro corridor
• 15 minutes from Delhi International Airport
• A short drive from MG Road, the high-street of Gurgaon
• Adjacent to a thriving neighbourhood with world class schools, universities, hospitals and malls in the vicinity
Marble Counter With Single Bowl Stainless Steel Sink, Drain Board With CP Fittings and Ceramic Tiles Above Working platform; Rest Oil bound distemper.
Copper Wiring Concealed Conduits And Modular Switches 24x7 Power Backup TV & Telephone Points in Living Room
And Master Bedroom only
Security System, Premium Electrical Package, I-Home Package any Special requirements as specified by you
You can get any info about real estate, real estate india, property in india, property agents in india, reai estate investors in delhi, real estate company in delhi/ncr Apartments for sale in delhi/NCR, 4 bedrooms for sale in gurgaon, residential flats for sale in gurgaon, 4 BHK Apartments for sale in gurgaon, property in gurgaon, 2 bhk in gurgaon, 3 bhk in gurgaon log on to
http://www.zameen-zaidad.com/spire-central-gurgaon.aspx and
http://www.propertycafeteria.com/main.aspx
Sector 106, Gurgaon,
Price – Rs. 3660000 *
Description - Spire Central, 3 Bedroom multistory apartments for sale @ Rs. 3660000 in sec – 106 Gurgaon, 15 minutes from Delhi International Airport, A short drive from MG Road, the high-street of Gurgaon, Adjacent to a thriving neighbourhood with world class schools, universities, hospitals and malls in the vicinity, Very close to upcoming Dwarka-Gurgaon Expressway connecting West Delhi to Gurgaon
Location Advantages:-
• Strategically located on the upcoming Dwarka-Gurgaon Expressway connecting West Delhi to Gurgaon
• On the Metro corridor
• 15 minutes from Delhi International Airport
• A short drive from MG Road, the high-street of Gurgaon
• Adjacent to a thriving neighbourhood with world class schools, universities, hospitals and malls in the vicinity
Marble Counter With Single Bowl Stainless Steel Sink, Drain Board With CP Fittings and Ceramic Tiles Above Working platform; Rest Oil bound distemper.
Copper Wiring Concealed Conduits And Modular Switches 24x7 Power Backup TV & Telephone Points in Living Room
And Master Bedroom only
Security System, Premium Electrical Package, I-Home Package any Special requirements as specified by you
You can get any info about real estate, real estate india, property in india, property agents in india, reai estate investors in delhi, real estate company in delhi/ncr Apartments for sale in delhi/NCR, 4 bedrooms for sale in gurgaon, residential flats for sale in gurgaon, 4 BHK Apartments for sale in gurgaon, property in gurgaon, 2 bhk in gurgaon, 3 bhk in gurgaon log on to
http://www.zameen-zaidad.com/spire-central-gurgaon.aspx and
http://www.propertycafeteria.com/main.aspx
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