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The great mall boom
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Almost a dozen high-end malls will open in Hyderabad in the next two years. SANGEETHA DEVI. K takes a sneak peek at what's in store...
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FUTURISTIC FORAYS A shopping mall like this will no more be Dubai's monopoly
There are malls and malls. Even then, most of us moan that the city doesn't offer us a complete shopping experience. We'd also groan at the thought of traffic choking the arterial roads. This is just the beginning. In the next two years, Hyderabad will have at least a dozen malls. Most are high-end ones that come with multiplexes. Of course, most of them promise multilevel parking facility that will put an end to parking woes. Here's a look at the shape of things to come...
Cities like Delhi, Gurgaon and Kolkata have generic malls co-existing with specialty malls — exclusive wedding, automobile and jewellery malls and so on. But what Hyderabad can expect, to begin with, are malls that will have something of everything — high-end fashion, jewellery, cinemas and food courts. In different stages of planning and execution are eight shopping centres at Road no 1, Banjara Hills, one at Himayat Nagar, one at Gachibowli and one overlooking Durgam Cheruvu, Madhapur,, all targeting the middle, upper middle class and the elite sections.
High-income groups
Where are the buyers, did we hear you say? The GVK group undertook a consumer study and learnt that most families in Banjara and Jubilee Hills areas have an annual income that exceeds five lakh rupees. The intention of most malls is to make the elite consumers — who travel to Mumbai, Delhi and Bangalore for some bling-bling shopping — open their purse strings in Hyderabad.
"There is very little organised shopping in the metros, say two per cent. This can go up to 10 per cent," reasons Girish Malpani, CEO of Maheshwari group, which is planning a shopping centre near Nagarjuna Circle, Banjara Hills and at Himayat Nagar, opposite Pick `n' Move eatery. The former will have an area of two lakh sq ft that will include four-screen multiplex and multilevel parking for 900 vehicles. The one-lakh 20,000 sq ft Himayatnagar mall will have three multiplex screens.
GVK One, spread across six lakh sq ft area, boasts of a six-screen multiplex by the Inox group, national and international brands, food courts and a 1000-car multilevel parking. Talks are on with the government to expand the parking area, if necessary. The mall is expected to open by March-June 2007.
The bigger, the better
The outskirts, too, will undergo a makeover. IVRCL and Inorbit groups are looking to cash in on the lack of huge malls in the outskirts. Nandini Mishra, spokesperson, IVRCL, informs, "The mall is part of our township, which will also have an IT Park. The five-floor mall will be near the Infosys and ISB campuses. We want to have 12 multiplex screens and parking for approximately 2,000 cars. The parking facility will be expanded; we are still working at it"
The Inorbit mall will overlook the Durgam Cheruvu. Anand Sundaram, Vice President, design and planning, says, "Among the metros, Hyderabad has the maximum potential for growth. It is investor friendly and there's market waiting to be tapped. People in Hyderabad and Bangalore are movie lovers so multiplexes become an integral part of their lifestyle. We are planning to have five to eight screens. There are three elements that contribute to good shopping experience - retailing, food and entertainment. Most malls lack in one or the other area. The idea is to do the best in all the areas." Inorbit, spread across seven lakh sq ft area, will have multilevel parking for 1000 cars."
When the malls are up and functioning, we'll get to see whether the customer stands the chance of being a king, finally.
Mall world
Road no 1 Banjara Hills:
GVK One, City Center Mall, Ashoka Mall, Alcazar Plaza and Towers, one by the Maheshwari group at Nagarjuna Circle and more.
Himayat Nagar: A mall by the Maheshwari group
Gachibowli: IVRCL project
Madhapur: Inorbit
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