Amid the rising number of coronavirus cases in India, the order of closure of malls and multiplexes across many top cities by the respective state governments to prevent people congregating for any reason, has caused the organized retail scene in these cities to come to a grinding halt.
The top 8 main cities of India have 126 malls sprawling over more than 61 mn sq. ft. area, and more than 100 malls have multiplexes attached.
Wherever it has been mandated, there will therefore be a high number of establishments that need to shut down for operations.
Even short-term closures will have significant financial implications.
However, what matters more is that these establishments attract massive footfalls. In a health crisis like the coronavirus pandemic, shutting them down can be a major step forward in terms of harm-prevention.
Anuj Kejriwal is CEO & MD at ANAROCK Retail, the retail division of ANAROCK Property Consultants headed by real estate industry stalwart Anuj Puri. ANAROCK Retail is the result of a strategic partnership between ANAROCK and Faithlane Property Advisors, which Kejriwal launched in 2017.