7 Facts About India's Ghost Shopping Malls | Explore 7 intriguing facts about India's ghost shopping malls, abandoned and eerie. Discover the mysteries behind these deserted retail spaces.
7 Facts About India's Ghost Shopping Malls | High Vacancy Rates: Ghost malls have over 40% vacancy, increasing to 64 malls in 2023.
7 Facts About India's Ghost Shopping Malls | Rising Numbers: From 57 in 2022, the number of ghost malls surged to 64 in 2023.
7 Facts About India's Ghost Shopping Malls | Major Cities Affected: Delhi-NCR, Mumbai, and Bengaluru have the highest number of ghost malls.
7 Facts About India's Ghost Shopping Malls | Reasons for Decline: Preference for online shopping and Grade A malls over poorly maintained malls.
7 Facts About India's Ghost Shopping Malls | Financial Impact: Approximately $798 million (Rs 6,700 crore) is trapped in these non-performing malls.
7 Facts About India's Ghost Shopping Malls | Demolition for Residential Use: Some ghost malls in Tier 1 cities are demolished to develop residential projects.
7 Facts About India's Ghost Shopping Malls | Challenges in Repurposing: Regulatory hurdles and financial constraints make repurposing these malls difficult.