It can be challenging due to regulatory obstacles such strata ownership, permit conversions, zoning restrictions, and budgetary limitations.
With 21 ghost retail centers, Delhi-NCR has the largest concentration, followed by Bengaluru (12), Mumbai (10), Kolkata (6), Hyderabad (5), Ahmedabad (4), Chennai (3), and Pune (3).
Some low-quality malls in NCR, Mumbai, and Pune were demolished to build new homes due to high demand since the pandemic, according to Knight Frank India's report.
A decrease in customer foot traffic can also be attributed to unattractive brands, poor management, poor upkeep, inadequate infrastructure, and uninviting exteriors.
64 retail centers totaling over 13.3 million square feet of gross leasable area have been designated as "Ghost Shopping Centers" as of 2023.
Malls that operate poorly and have above 40% vacancy are known as "ghost shopping malls." There are now 63 of these malls in eight major cities, up from 57 in 2022.