The retail real estate landscape is evolving in India and developers and Institutional investors are capitalizing on the growing aspirations of consumers. With institutional players acquiring assets or partnering for new projects, retailers are also venturing with increased confidence bolstered by the availability of quality and premium grade malls.
Malls With Most Footfall
The top three malls showed an average daily footfall of 26,212, 24,282 and 23,000 respectively, according to a survey by location AI startup GeoIQ. The start-up ranked the top 25 malls in India by analyzing footfall data for the first quarter of fiscal year (FY) 2025.
The report also discovered a 7% decline in average daily footfall across these malls in the months of April and May, likely owing to the rising temperatures across the country during that time. GeoIQ leverages aggregated, anonymised geolocation data from mobile devices and applies advanced machine learning to generate accurate footfall and other insights for any store or location across the country.
City wise Popular Malls
Mumbai: The top five malls in Mumbai are Phoenix Marketcity (ranked 3rd), R City Mall (ranked 4th), Viviana Mall (ranked 5th), Seawoods Grand Central (ranked 10th), and High Street Phoenix (ranked 12th).
Delhi NCR: In Delhi NCR the top 5 malls include Vegas Mall (ranked 1st), V3S East Centre Mall (ranked 2nd), Pacific Mall, Tagore Garden (ranked 8th), Select Citywalk (ranked 11th), and Gaur City Mall, Greater Noida (ranked 19th).
Non – Metro Cities: The top 5 malls outside major metropolitan areas are Elante Mall, Chandigarh (ranked 6th), Phoenix Marketcity, Pune (ranked 7th), Sarath City Capital Mall, Hyderabad (ranked 9th), Palladium Ahmedabad (ranked 15th), and Lulu Mall, Lucknow (ranked 17th).
