1 in 5 Indian Malls Are "Ghost Malls" or Empty, Says Report

• A Knight Frank report indicates 1 in 5 malls (20%) in India are 'ghost malls', either closed or largely vacant.
• The survey of 365 malls in 32 cities found 75 shopping complexes to be empty or underperforming.
• These 'ghost malls' represent approximately 1.55 crore square feet of unused retail space.
• Metropolitan areas have more closed malls, while Tier 2 cities like Mysore and Vijayawada show better occupancy.
• Renovating these malls with new planning could generate an additional annual revenue of ₹350 crore.

Why It Matters: One in five Indian malls are empty, indicating economic loss and renovation potential.