It is said that organized retail will be the catalyst for the real estate industry. According to a study by ICICI Property Service and Technopak, it is estimated that India’s retail sector will grow from its current level of US $330 billion to US $500 billion by 2011, creating the need for an additional 500 million sq ft of retail space.
at present there are only 137 malls in the country, while the study estimates that the country can actually support 1,000 malls and shopping centers in more than 500 towns and cities. There is likely to be investment of over US $30 billion in the next 4-5 years from major companies such as Reliance, Aditya Birla Group, Metro, Carrefour, Auchan, Wal-Mart and Tesco.
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