North Delhi retail sector is changing, with the Metro once again playing not an insignificant role. Now, it is the Metro Malls, which are mushrooming all along the Metro stations and promising to take the city by storm. North Delhi is transforming from an unorganized retail sector to an organized retail market owing to a change in demand and preferences of consumers. With the Mall culture becoming popular in Delhi NCR, more and more developers are coming up with retail projects, but as of now, there is more supply than demand.
Metro Mall trend is rapidly catching up in Delhi after Metro Rail enhanced connectivity within Delhi to a considerable degree. In a city like Delhi, where traffic is one of the biggest problems, Metro Malls are a very convenient and comfortable option for shoppers. Parsvnath Developers Limited is the to take advantage of the trend and has launched malls along the Metro lines – the ‘Metro Malls’. The Parsvnath Group has launched 9 malls across the Metro lines, all in different stages of completion.
Metro Malls in North Delhi
The Parsvnath Metro Mall at Inderlok Metro station is leased out to ‘Big Bazaar’ hypermarket. It is one of the more successful and popular markets of North Delhi. It draws footfalls not only from nearby areas but also from Metro commuters. Another mall at Inderlok, which is still under construction, will house big retailers like United Colours of Benetton, Levi’s, Koutons, Raymond’s, etc.
A second Mall is coming up at Pratap Nagar Metro station, next to Subzi Mandi and Kamla Nagar market. A third is coming up at Tis Hazari Metro station, which was earlier leased out to Spencer’s Retail, but has now shifted. Both the malls are ready to be leased out. A fourth mall is coming up at Delhi’s biggest transport terminal, ISBT (Inter-State Bus Terminus) at Kashmiri Gate Metro station. This Metro station sees nearly 6 to 7 lakh commuters every day. Therefore, the upcoming mall will easily generate substantial footfalls. A fifth mall is coming up at Seelampur Metro station, which is designed to provide an airconditioned comfortable shopping experience to its consumers. This mall will have a well-defined space for food. It will have shops, showrooms, an anchor store, specialty restaurants, a pizza corner, and a few assorted kiosks. Parsvnath’s City Centre, the mall at Seelampur, will have special areas designated for fine food and drinks, kids play area, and an entertainment zone, apart from shopping arcades. The Mall will also have the first in-house 3D screen with four multiplexes.
The sixth and seventh Malls by Parsvnath are coming up at the Welcome and Shahdara Metro stations. These malls are intended to make profit from the untapped potential of customers from East Delhi. Another Metro Mall coming up at Rohini aims to attract high-end consumers from Rohini, Pitampura, Punjabi Bagh, and Shalimar Bagh. The mall is designed to provide a pleasing ambience and will showcase all Indian and international brands. It is expected to be on a par with global standards and special space will be allocated for hosting cultural events and functions. Last in the line, a Parsvnath Metro Mall is presently under construction at the Azadpur Metro station. This mall will be catering to the population of Azadpur and the nearby areas.
Other Operational Shopping Malls
There are other malls mushrooming in areas like Shalimar Bagh, Pitampura and Wazirpur. In Shalimar Bagh, DLF City Centre is doing brisk business, though the footfalls are not too high because it is not linked to the Metro, but it is expected that the mall will do good business in the near future. North Square Mall at Wazirpur is also doing good business. The Mall hosts Fun Cinemas, which receive maximum footfalls even though there are other retail outlets.
In Rohini’s Sector 10, the Metro Walk is a mall-cum-recreational hub that has been running successfully. It has an amusement park, a kids’ playing zone, multiple retail outlets and restaurants. People from North and West Delhi often visit the mall and enjoy a family outing. Some fine dining options like Ruby Tuesday, Moti Mahal, Berco’s, Pind Baluchi and Pizza Hut are located in this mall.
Malls at Rajouri Garden in West Delhi are doing very good business compared to the North Delhi malls. Owing to the Metro connectivity, the footfalls are very high in these Malls, and on weekends, there is hardly any wiggle room here. According to a resident Pooja Kapur, “I always shop at the Rajouri Garden Malls because of their proximity to the Metro and also because I have so many shopping options.” As there are five Malls in close proximity to each other, they provide consumers with a lot of variety in shopping and also have multiple eating and entertainment options.
According to market statistics, high streets and local markets are still more popular than Malls in North Delhi. Only the young crowd prefers Malls to high street markets. Rohini and Pitampura have high street markets and commercial complexes, which are more popular shopping areas than Malls. The capital values of Malls saw a 15-20% drop owing to fewer transactions and upcoming malls are almost 30-50% vacant. At Rohini’s Sector 16, the Crown Plaza Hotel was launched at Rs 1,800-2,000 per sq ft in 2008 and is now available at Rs 1500-1,800 per sq ft.