Consultants who help lease these properties say this is the steepest decline at least in a decade.
Retailers and mall developers have seen 35-50 per cent growth in the first two weeks of the end-season sale.
The latest trigger has been Future group's buyout talk with the retail unit of Andhra Pradesh Chief Minister Chandrababu Naidu's family-owned Heritage Foods
Phonemaker Apple is said to be in talks to take 30,000 sq ft retail space at plush property Maker Maxity, in Bandra Kurla Complex
At least half a dozen are in the works with increasing brand awareness and growing purchasing power in upper classes.
Brand Factory clocked in Rs 1,045 crores worth of sales in FY17, accounting for 27 per cent of the total revenues earned by Future Lifestyle Fashions Retail. But what about the future?
7.8 million square feet of mall space is under construction this year, the highest ever since 2011.
120 new malls came up in last two years, but 30-40 of their older peers downed shutters
Footfall at malls are down 20-25 per cent in the past couple of years.
Of the 300 operational malls in the country, just 5-7 per cent, or about 20 malls, are doing well, suggest analysts reports.
