India's 'Ghost Malls' Hold Rs 357 Cr Rental Potential: Knight Frank

• India's 'ghost malls' could unlock Rs 357 crore in annual rental revenue through strategic revitalization, per a Knight Frank report.
• The report identified 74 "ghost assets" (15.5 million sq ft) among 365 surveyed malls, with 15 high-potential malls (4.8 million sq ft) offering significant rental income.
• Tier 1 cities account for Rs 236 crore and Tier 2 cities for Rs 121 crore of this potential, showing opportunities across urban markets.
• Even Tier 1 cities house 11.9 million sq ft of underutilized mall space, indicating older malls struggle to keep pace with evolving consumer demands.
• Nagpur has the highest ghost mall concentration with 49% vacancy, followed by Amritsar (41%) and Jalandhar (35%) in Punjab.

Why It Matters: Revitalizing India's ghost malls could unlock Rs 357 crore in annual rental revenue.