Kirana stores cash in on their real estate

Small scale mom and pop stores are joining the system to beat it. As the bigger retailers are looking to gain a foothold in local neighborhoods, they are offering large sums to lease out premises of local kirana (mom and pop) stores. Real estate has seen significant growth in the past few years and kirana stores are making the most of owning stores in highly prized areas, with prices up by 40% this year. Smaller food based grocery stores such as Subhiksha, Spinach and Spencer's are entering into long leases with kirana stores that have more than 1,000 sq ft of space.