India's Ghost Malls: 10 Shopping Centers That Lost Their Shine

• Nearly 20% of India's operational shopping malls (74 out of 365) are classified as 'ghost malls' by Knight Frank India, with over 40% vacancy and low footfall.
• Factors contributing to their decline include poor tenant mix, aging infrastructure, fragmented ownership, and the rise of newer, experience-driven malls.
• The Great India Place (Noida) lost footfall after DLF Mall of India opened, while Gold Souk Grande (Kochi) saw most stores shut down within a decade.
• Malls in Kolkata's New Town–Rajarhat belt, Bengaluru's ETA Mall, and civic-developed malls in Kochi also struggled due to oversupply and competition.
• Nagpur, Amritsar, and Jalandhar show high vacancy rates, reflecting structural retail stress; successful malls now focus on curated brands, entertainment, and dining.