Mall Development in Kolkata
Now the action is taking place in newly developing suburbs such as the area around the EM Bypass.
• Retail, the next two years will see an additional 5.5 million square feet of shopping space getting occupied in Kolkata.
• Most of the development is planned in the emerging suburban markets, primarily due to availability of land.
• At least five new malls are slated to come up there in the near future and each one will be between 400,000 sq ft and 450,000 sq ft. Two others are being developed in other parts of the city. About Rs 100 crore (Rs 1 billion) will be invested in each one.
• Leading the charge into the malls is Rahul Saraf, managing director Forum. Saraf is now planning two sprawling malls on the EM Bypass and both will be around 400,000 sq ft to 600,000 sq ft. That’s about two or three times the size of Forum.
• By the end of 2009, Kolkata will have 17 new shopping malls.
• With nearly six malls coming up at Rajarhat alone
• Some of the big upcoming shopping malls in and around Kolkata include
• Acropolis (Rajdanga),Technopolice, Lake Mall, City Centre II, Forum II,Terminus,DLF -IT park Retail area also there, Lake Mall, Nandu Belani’s mall
• First IT park in the city has a separate retail complex, apart from three independent towers for office use.
• South City Mall is one of the largest real estate projects under construction with a usable area in excess of 7.5 lakh square feet (sq.ft).-Pantaloon shop is there.
• Vivek Kathotia of Fort Group already has a name for his jewellery mall that is scheduled to come up next year: Fort Knox.Fort Knox on (tanishq)Camac Street is a specialised jewellery mall-Already existing
• Lake Mall is a shining instance of an old KMC (NOT YET COMPLETED) market being remodeled into a modern mart. Homeland and Block-by-Block (hsril)will be specialized home malls in south Kolkata and New Town respectively.
• Neotia’s 550,000 sq ft City Centre, which is scheduled to open in May in Salt Lake. Neotia has already gathered a galaxy of retail names from around the country including Shopper’s Stop, Planet M, Nike, Reebok, Samsonite, Arrow, Lee and Wrangler
• Malls exclusively positioned towards the very high end segment are Nandu Belani’s mall at Elgin Road spread over 80,000 sq ft, Haute Street on Park Circus connector
• ATRIA MALL COMING UP-
• Merlin Group has formed a consortium with South City Projects and CMDA to develop “premium housing, commercial and high-end retail space” over another 600,000 sq ft of space near the Ruby crossing.
• To be developed across 6.5 acres at the Kasba Rajdanga ground, near Siemens, the Rs 400-crore Acropolis will comprise a 4,000-seater sports stadium, a 17-level IT-enabled business tower and a shopping mall with a four-screen multiplex, besides two mini-anchors. The property will have a three-level car park for 750 vehicles.
• Avani Galleria on Park Street covering over one lakh sq ft. Several medium format retail projects are also on the cards-At Rabindra sadan Khadims egro is also there.
• The CBD, comprising of the old Dalhousie district, Chowranghee, Camac and Park Streets, and AJC Bose road, is not expected to have any significant addition to commercial stock in the near future due to unavailability of land parcels.
• Avani Signature, a Grade A building with a built-up area of 107,000 sq ft is to be operational in 4Q 2007. About 75% of commercial buildings in the CBD are old and would classify as Grade B space.
• However, the suburban districts such as Salt Lake City and Rajarhat are expected to witness an addition of 8 million sq ft in 2007-2008 driven by high growth of the IT sector. Vacancy levels in the CBD and suburbs are low at 0.6% and 4.5% respectively. A majority of upcoming Grade A projects were also pre-leased early.
• Retail Space to increase five times
Currently there are seven operational malls - Forum Mall, Home Land, Avani Heights, Gariahat Mall, Orchid Mall, City Centre, Metropolis Mall, and Orchid Mall - with 1.4 million sq ft of built-up space in total. Vacancy levels are low around 1%.
• According to Abhishek Kiran Gupta of JLLM, the retail real estate market in Kolkata is expected to grow exponentially with as many as 16 new malls with 6 million sq ft to be operational by 2008-09. 3.1 million sq ft is likely to come up by end 2007, including Forum II, South City Mall and Mani Square.
• The signature mall coming up at Topsia on the Eastern Metropolitan Bypass.
Haute Street is a first-of-its-kind shopping mall with an investment of Rs 50 crore. The developer claimed that “it will house niche products and will have a niche footfall”. With several malls coming up in the city in the recent past, this mall promises to set new standards and will be spread over an area of 1 lakh sq ft.
The mall will have all the high-end brands - both national and international. Sujit Arya, director of Surya Mansion who are developing. Architect Harsh Sanon pointed out that this vent. Haute Street, “India’s first-ever signature mall”, coming up on the Park Circus connector next to Viswakarma, promises to bring a clutch of designer labels in first-time exclusive stores under one roof.
• “We have already signed with Omega and Rado. Talks are on with brands like Zara, Versace, Mango and Swarovsky,” Sujit Arya, director of The Surya Group, a consortium of the Rawalwasia and Arya groups developing the Topsia mall, said at the launch on Wednesday.
• Paharpur is developing one of the biggest housing projects in Calcutta. Located on the Diamond Harbour Road, close to the Indian Institute of Management, Joka, the project is offering 2,000 residential housing units.The project, called Genxx Valley, is slated to be completed by the first quarter of 2008. Paharpur is now working on a mall next to the housing project. Spread over 2.5-3 lakh square feet, it will be developed as a destination mall.
• SH Departmental Stores to open in Kolkata-kolkata will soon have a new specialty shopping centre. Mumbai based MKP Distributors is developing the SH Departmental Stores which will be opening a ‘high end lifestyle retail chain’ dealing with all premium products such as designer jewelry, sunglasses, fragrances, cosmetics and much more. Each of these stores will range from 8,000-9,000 sq ft to 40,000-45,000 sq ft in size
• Small wonder, top-of-the-line consultants like RMJM, Balkrishna Doshi, Bimal Patel, Kiran Kapadia, Morphogenisis Architecture Studio and old favourites like Dulal Mukherjee, J P Agrawal, Sanon Sen & Associates are being roped in to transform the very look and feel of the city-CAN WE GET CONTACT DETAILS OF THEM…
• Brads like—ADIDAS/WOODLAND/BUDDY DAVIS/NIKE/PARX/REEBOK/ARROW/BENETTON/ Giorgio Armani/ Dolce &Gabbana/ Tods, Dolce & Gabbana, Canali, Louis Vuitton, Christian Dior, Fendi), accessories, watches, perfume and jewellery (Cartier, Harry Winston, de Grisogono, Gem Palace, Ganjam. Piaget, Chopard, Vacheron, IWC, Harry Winston, Vertu, Jaeger, Breguet, AP and Rolex are some of the big names opening in the mall.
Existing Multiplex Mall
A.C. Market
1, Shakespeare Sarani
Kolkata – 700071
Charnock City
KB-26, Sector - III, Saltlake City,
Kolkata - 700 091
Forum Shopping Mall
3 Elgin Rd.,
Kolkata
The Metro Plaza
3 Elgin Rd.,
Kolkata - 700 071
Shreeram Arcade
15A, J L Nehru Road, (opposite Lighthouse Cinema)
Kolkata 700 013
Shoppers Stop
10/3 Lala Lajpatrai Road (Elgin Road),
Kolkata-700020.
Treasure Island
3, Madge Lane, (opposite New Market)
Kolkata 700 016
Vardaan Shopping Complex
25A, Camac Street,
Kolkata 700 016.
Due credits to various newspapers and websites who have helped me to compile these data
The retail story in the Eastern part of 
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