Key Thing to Know Before Investing in Retail Space Markets
In the recent times Gurgaon, The Millennium City has become the fastest growing financial and industrial hub with the third-highest per capita income in India. According to reports, for 1,000 populations, The city has 3,775 sq ft of modern retail space.
As compared to other cities like Delhi, Mumbai and Hyderabad, It is relatively small. Most of the retail sector i.e. about 78 per cent is concentrated in malls. The Cyber City is also moving rapidly in the modern retail space for families earning more than 300,000 per year, and is closely followed by Central Delhi, Noida and South Delhi. The ample modern retail space in Gurgaon is also due to the concept of mixed-use spaces. The corporate character of the Gurgaon has contributed greatly towards ground floor retail spaces in office buildings. The reason why people are investing in retail shops in Gurgaon is because of the rise in fashion of spending at big supermarkets and Malls. People like to spend their weekends and free time at Malls and street markets. The lifestyle of people living in the metro cities has changed a lot in the past decade. Especially if we talk about Gurgaon, we will see people wearing and talking big Brands. All their desires are fulfilled at Retail Markets & Malls. Shops in these shopping markets provide the convenience of all of your needs at one place. Here you can get daily needs, clothing, footwear and everything at a single place. ROF Galleria Dwarka Expressway is one such Shopping Complex located in the Heart of Gurgaon. It has uniquely designed shops of 100 sq ft. equipped with latest facilities and amenities making it the most celebrated shopping destination in Gurgaon.
The fast connectivity through better roads and improvement in public transportation and townships where retail areas have been planned for residential/office developments have boosted the New Gurgaon. Hence, New Gurgaon has both the commercial and residential projects to offer immense opportunity for retailers in long run as location decisions in retail sector are harder to change because retailers have to make investments to buy and develop real estate. ROF Galleria Gurgaon is the one place for retailers to investment their hard earned money as they can make greater profits here in the prime location of Gurgaon.
One of the greatest advantages of purchasing a Retail property is that you have control over the most parts of your deal. You are the one who is going to decide whether the property you are investing in is going to give you good returns and profit. If You are in charge of every decision for your investment in a particular property, you will likely to find more and detailed information about the project you are investing in, as your research in retail property will make your decision a failure or successful investment.
There are some factors to be kept in mind while investing in a new retail project:
- Location of the project
- Pricing of the units
- Developer reputation
- Facilities being provided
Gurgaon retail market is facing the major challenge of lack of quality retail spaces and availability of large spaces for bigger retail markets. A large young working people, nuclear families, along with increase in the number of working women population and increasing opportunities in the service sector are going to be the important factors in the growth of the organized retail sector in Gurgaon. In Gurgaon, the large middle class and its retail industry are the key attractions for global retail companies wanting to enter into new markets, which will ultimately help the Gurgaon’s Retail Industry to grow faster. This will lead to higher number of people employed in the retail sector and increase in the per capita income, the measure of a city’s development.
Considering the growth of the retail market, advanced technologies used for operations and good government policies, the future of the retail sector in Gurgaon seems to be promising. Gurgaon is one of the fastest growing retail markets in the Delhi/NCR. This year, In Mumbai, Delhi-NCR and Bengaluru there were at least 70 new expansions by global and domestic brands. NCR and Mumbai markets will continue to be the preferred choice for global retailers as both cities have the presence of the right target people as well as suitable real estate opportunities. By the year 2019, 84 per cent of the total retail spending in Gurgaon will be on modern retail, this includes both brick and mortar and E-tail formats – the highest among all the zones. Hypermarkets and departmental stores will continue to expand on newer residential developments. Products like food and beverages and fine dining, will continue to make their way to top in this expanding zone.
The physical and social infrastructure in Gurgaon along with ongoing and proposed infrastructure projects are likely to boost retail space in Gurgaon. The Cyber City can be considered as best and preferred choice for retail market in the coming future.