Ghost Malls in India: Every fifth mall in the country is becoming a ‘Ghost Mall’; a shocking report by Knight Frank

• 20% of malls deserted: Out of 365 malls in the country, 75 malls became ‘ghost malls’
• More results in metros: Malls empty in tier-1 cities; Occupancy is relatively good in tier-II cities
• Redevelopment Opportunity: 15.5 million sq ft of unused space; An annual revenue of ₹350 crore is possible if properly renovated

Shopping Mall Crisis India: Today, every fifth mall in the country has closed down or is on the verge of closing down. According to a report by Knight Frank, 365 malls in 32 major cities of the country were surveyed. From this survey, 75 or 20 percent of these malls or shopping complexes have become vacant or ghost malls. If renovated and renovated with innovative planning, they can be restored to their former glory.

The plight of Delhi’s Ansal Plaza

Many people have fond memories of Delhi’s Ansal Plaza. It was considered to be the first mall or major shopping complex in Delhi NCR. Once upon a time, it used to be crowded and overflowing with customers. But today it is almost deserted. With the exception of a few food and beverage outlets, many businesses in the mall have also closed. (Business News)

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75 malls in 2 cities deserted; The number of ‘ghost malls’ increases

As many as 75 malls and shopping complexes in 32 cities across the country are currently deserted and there is an eerie silence. Poor planning, inappropriate design, non-adherence to change with time and changing shopping habits of consumers are the picture of the closure of malls.

Property consultancy Knight Frank in its latest report termed these deserted malls as ‘ghost malls’. About 80 percent of the shops in these malls are empty and the infrastructure is also deteriorating due to lack of regular maintenance. (Small Business Ideas)

More ghost malls in metros

According to Knight Frank’s ‘Think India, Think Retail 2025’ report, most ghost malls are located in major cities and metros. In contrast, malls in Tier-II cities have relatively good occupancy rates, the report noted. (

It has also been revealed that about 15.5 million square feet of the currently closed malls are not in use. According to the report, proper renovation and redevelopment of these malls can generate an additional revenue of approximately Rs 350 crore annually.

Due to the changing consumer behavior in the retail sector, a big challenge has been posed in front of the traditional mall culture, and what will happen to these ghost malls in the future, everyone is paying attention.

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What are Ghost Malls?

According to a report by Knight Frank India, ghost malls are shopping centers that were built luxuriously but are now abandoned, waiting for customers.

More than 40% vacancies

According to a Knight Frank report, malls with more than 40% vacancy and operating for three years or more are classified as ghost malls. According to the survey, out of 365 shopping centers, 754 malls have now become completely ghost malls.

Why are malls failing?

According to a Knight Frank India report, there are several major reasons behind the failure of malls. The biggest reasons are outdated design and poor layout.

Poor management and maintenance

Many old malls lack proper customer walking space, dark alleys and good brands.

Poor management and maintenance of malls is also driving customers away. According to the report, today’s customers want the experience found in modern, Grade A malls. Old malls have failed to keep up with the times.

The situation in this city is worst

According to a Knight Frank report, the situation is worst in cities like Nagpur, where about 49% of malls are vacant. After that are the cities of Amritsar and Jalandhar. This problem is not limited to small towns. Malls are also becoming deserted in major cities like Delhi-NCR, Mumbai and Bengaluru. 44% of the total ghost malls in the country are in Western India. However, the report also said that if 15 major malls are renovated or relaunched, they could generate an annual revenue of ₹357 crore.