{"id":27127,"date":"2013-11-10T10:11:32","date_gmt":"2013-11-10T04:41:32","guid":{"rendered":"http:\/\/www.bharatestates.com\/blog\/?p=27127"},"modified":"2020-06-15T03:32:07","modified_gmt":"2020-06-14T22:02:07","slug":"27127-slowdown-in-mumbai-retail-sector-as-mall-occupancy-drops-down-by-52","status":"publish","type":"post","link":"https:\/\/www.bharatestates.com\/blog\/27127-slowdown-in-mumbai-retail-sector-as-mall-occupancy-drops-down-by-52\/","title":{"rendered":"Slowdown in Mumbai Retail Sector as Mall Occupancy Drops Down by 52%"},"content":{"rendered":"<p><a href=\"https:\/\/www.bharatestates.com\/blog\/wp-content\/uploads\/2013\/11\/PMC.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignnone size-full wp-image-27128\" alt=\"mall\" src=\"https:\/\/www.bharatestates.com\/blog\/wp-content\/uploads\/2013\/11\/PMC.jpg\" width=\"300\" height=\"250\" \/><\/a>The thriving mall culture had once led to launch of numerous shopping malls in major cities like Mumbai but suddenly the malls have turned haunted and empty which has affected the real estate sector. Even heavy discounts offered by the shop owners are not attracting the customers. One of the prominent malls of Thane, Eternity mall is almost transformed into a haunted place with no customers, half of the shops closed down and few opened shops where owners and workers pass their time watching TV or listening to radio. Not only this mall, there are various other known malls of Mumbai which are facing such crisis.The doom in the retail sector has drastically affected the real estate market of Mumbai. About 40 odd malls in the city are vacant. According to a report presented by the Associated Chamber of Commerce and Industry of India, 52% of malls in Mumbai are remaining unoccupied. Most of malls are facing this failure primarily due to poor designs and lack of popular brands. The other reasons for the breakdown are inappropriate location, competitive malls in proximity with international brands and poor parking facilities. Even the retail sector of the national capital, Delhi is facing a similar situation.Even if the shops offer flat 50% discount, no response can be seen from the customers. Milan mall in Santacruz, Vashi\u2019s City Center, Citi mall in Andheri have almost shut many of their shops. One of the largest malls of <a href=\"https:\/\/www.bharatestates.com\/blog\/18630-bhandup-another-emerging-destination\/\">Bhandup<\/a>, Dreams mall has only a multiplex, banquet hall and few offices, functioning.<span style=\"left:100%;display:inline-block;position:fixed\"><a href=\"http:\/\/rusbankinfo.ru\/\">\u0437\u0430\u0439\u043c \u043d\u0430 \u043a\u0430\u0440\u0442\u0443 \u0431\u0435\u0437 \u043e\u0442\u043a\u0430\u0437\u043e\u0432 \u043a\u0440\u0443\u0433\u043b\u043e\u0441\u0443\u0442\u043e\u0447\u043d\u043e<\/a><a href=\"http:\/\/rusbankinfo.ru\/credits.html\">\u0432\u0437\u044f\u0442\u044c \u043a\u0440\u0435\u0434\u0438\u0442 \u043e\u043d\u043b\u0430\u0439\u043d<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The thriving mall culture had once led to launch of numerous shopping malls in major cities like Mumbai but suddenly the malls have turned haunted and empty which has affected the real estate sector. Even heavy discounts offered by the shop owners are not attracting the customers. One of the prominent malls of Thane, Eternity [&hellip;]<\/p>\n","protected":false},"author":14,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-27127","post","type-post","status-publish","format-standard","hentry","category-realty-news"],"blocksy_meta":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Slowdown in Mumbai Retail Sector as Mall Occupancy Drops Down by 52% -<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.bharatestates.com\/blog\/27127-slowdown-in-mumbai-retail-sector-as-mall-occupancy-drops-down-by-52\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Slowdown in Mumbai Retail Sector as Mall Occupancy Drops Down by 52% -\" \/>\n<meta property=\"og:description\" content=\"The thriving mall culture had once led to launch of numerous shopping malls in major cities like Mumbai but suddenly the malls have turned haunted and empty which has affected the real estate sector. Even heavy discounts offered by the shop owners are not attracting the customers. One of the prominent malls of Thane, Eternity [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.bharatestates.com\/blog\/27127-slowdown-in-mumbai-retail-sector-as-mall-occupancy-drops-down-by-52\/\" \/>\n<meta property=\"article:author\" content=\"https:\/\/www.facebook.com\/divya.mudliar.35\" \/>\n<meta property=\"article:published_time\" content=\"2013-11-10T04:41:32+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-06-14T22:02:07+00:00\" \/>\n<meta property=\"og:image\" content=\"http:\/\/www.bharatestates.com\/blog\/wp-content\/uploads\/2013\/11\/PMC.jpg\" \/>\n<meta name=\"author\" content=\"divya\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"divya\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" 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