We are here to redefine the shopping experience in Kolkata.
West Bengal marches ahead on the path of development under the able guidance of our dynamic Chief Minister- Sri Buddhadeb Bhattacharya, investors are queuing up with proposals for industry, Infrastructure projects and real state projects. The City of Joy, Kolkata as it is popularly known is undergoing a renaissance. Each and every sector of society is seeing an unparalleled growth. New Industries, Fledgling IT units in Sector-V, Boom in Retail business and massive real estate construction corroborate the above statement. West Bengal constitutes 10% of the Indian market and has an annual consumption expenditure of about US$26.37 billion.
Kolkata’s real estate market is set for a high growth phase fuelled by the IT/ITE's sector. An increasing corporate presence in the city is also triggering growth for Retail, Hospitality and Residential properties. Kolkata is a high priority destination for retailers attracted by its large population and rising disposable incomes.The city is also a high priority destination for domestic and international retailers with over 2-3 million sq ft of organized retail under construction by 2008.
With around 10 malls operational and another 30 anticipated over the next couple of years, organized retailing in Kolkata has established. A strong residential catchment comprising higher and upper middle class in Rajarhat and Sector-V has led to mall concentration in these areas. While Rajarhat has around 12 mall propositions, EM Byepass follows with 3 malls which are in various stages of development. Current operational malls in Kolkata are The Forum Mall, Home Land Mall, The Gariahat Mall, Fort Knox Mall, City Centre Mall, The Metropolis Mall, Orbit Mall, South City Mall, Shagun Mall, E-Mall etc.
Malls have contributed to radical transformation of urban lifestyle in a big way. The idea was conceptualized, developed and accepted in the western world long back but we in India have caught up with the trend recently. Kolkata is now in the forefront of this development by virtue of being the biggest commercial centre in the Eastern Region. Some malls have started functioning but many more are either under construction or are on the drawing boards.