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Ghost shopping centers space in top 8 Indian cities surge 59% to 13 3 million sq ft

The number of such centers have risen to 64 by the end of 2023 from over 57 the previous year. Consequently, Knight Frank India estimates a loss of value amounting to Rs 6,700 crore in 2023.

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ghost shopping malls: Number of ghost malls rising in India, Delhi NCR tops the list, followed by Mumbai, Bengaluru: Report

Knight Frank India s recent report reveals a notable rise in ghost shopping malls, with 64 such malls identified in 2023 compared to 57 in 2022. These malls, characterized by a vacancy rate exceeding 40%, saw a 58% increase in area, reaching 13.3 million square feet. The report highlights the challenges faced by Grade C assets and ghost shopping centers, emphasizing the need for landlords to rejuvenate or divest such properties.

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Ghost shopping malls are on the rise, most vacant spaces in Delhi-NCR: Report

Ghost shopping malls are on the rise, most vacant spaces in Delhi-NCR: Report
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