Chennai - Malls and Multiplex projects, Entertainment & Week End Get Aways

[Arul Murugan]

Originally Posted by bharani.nitt

any1 knws wat is happenin to this express avenue mall ?

http://expressavenue.in/

any developments ?

It is under construction!!

I remember 3-4 floors popping out.....

[greatshankar]

Originally Posted by H Factor

How old is this video? Any idea when this s getting inagurated? Two days before i travelled & could see lot of improvement.

I think this is pretty old video...

[Elango1984]

IT’S a problem of plenty. While rents in glitzy malls dropped over the last quarter, prime markets continue to see high rates of
realty vacancy even in well-heeled cities like Delhi and Mumbai. An extensive study of this conducted by real estate consultancy Cushman and Wakefield (C&W) for SundayET revealed that mall vacancy rates have remained at an average of 16% across 7 major cities in 2008.

Delhi and Pune had the highest ratio of vacancies in malls at 24% and 15% respectively, with the financial hub of Mumbai not too far behind at 10.2%. Chennai seemed to be the only one to beat the empty-quotient with approximately 1% of its mall space being left vacant.

“From the retailers’ point of view, the preference is still largely for premium high streets over malls, further aggravating the situation,” says Rajneesh Mahajan, executive director, retail services, C&W India. “In cities like Delhi and Pune where the distribution of malls is fairly equitable, high vacancy levels are a result of inadequate quality of development which have deterred major retailers from venturing into these malls.”

Kishore Biyani, CEO, Future Group feels that retailers are in a period of transition. “There is a higher degree of cautiousness at this time. Everyone is discovering what works best,” he says. “They are deciding where to invest right now so that they can get the best return.” No wonder then that in certain markets, more mall space has not led to increases in occupancy levels.

Take the case of Delhi NCR, which has the highest amount of mall space in India and notched up another 12% increase in supply last year with 4.73 mn sq ft opening up across 18 mall projects. However, vacancy levels are also the highest at 24% of the existing mall stock of 14.6 mn sq ft being unutilised.

“This is largely due to the fact that most of the new space is concentrated in specific locations, creating an excess in that micro market,” says Mahajan. “The concentration has been largely in satellite towns to Delhi like Gurgaon, Ghaziabad, Noida etc. where a large number of projects have been completed but are yet to see a corresponding uptake of space by retailers.”

Some people, however, also believe that since many malls have not been able to attract enough footfalls, big retailers are cautious about taking up space there. “People have come out of the mall culture. That charm and craze is over,” says Ambeek Khemka, group president of Vishal Retail which has been operating successfully in the standalone format.

“Moreover, the drop in rental retail values haven’t been across the board, so these rates are still not attractive enough. Also, a lot of mall developers don’t look at the right product mix which again acts as a deterrant for many top retailers.”

The story is similar in other cities too. Pune, for instance, has recorded the second highest vacancy level of 15.23% of the existing stock of 1.5 mn sq ft. The reason ascribed is that besides having restricted entry of mall space, the market also does not have very high retailer confidence on the overall quality and performance of the new mall space.

In Mumbai, approximately 2 mn sq ft (seven malls) entered the market by the end of Q4, increasing supply by 30% but vacancy levels stood at 10.2%. It is being said this was due to a misalignment in tenant expectation vis-a-vis the profile of the catchment area. So while the mall owners expected an overwhelming response from retailers, the customer profiles did not enthuse potential tenants. The general slowdown in expansion by retailers also contributed to the overall vacancy level in the city.

Southern markets such as Bangalore, Chennai and Hyderabad, however, tell a different tale. Vacancy levels haven’t been as high primarily due to the supply and size of malls, both being restrained in these markets. In 2008, no major malls opened in these southern markets while retailer activity remained stable, keeping vacancy levels in the manageable range of 1%-5%.

http://economictimes.indiatimes.com/...ow/4058380.cms

[ranga]

Originally Posted by Elango1984

IT’S a problem of plenty. While rents in glitzy malls dropped over the last quarter, prime markets continue to see high rates of
realty vacancy even in well-heeled cities like Delhi and Mumbai. An extensive study of this conducted by real estate consultancy Cushman and Wakefield (C&W) for SundayET revealed that mall vacancy rates have remained at an average of 16% across 7 major cities in 2008.

Delhi and Pune had the highest ratio of vacancies in malls at 24% and 15% respectively, with the financial hub of Mumbai not too far behind at 10.2%. Chennai seemed to be the only one to beat the empty-quotient with approximately 1% of its mall space being left vacant.

“From the retailers’ point of view, the preference is still largely for premium high streets over malls, further aggravating the situation,” says Rajneesh Mahajan, executive director, retail services, C&W India. “In cities like Delhi and Pune where the distribution of malls is fairly equitable, high vacancy levels are a result of inadequate quality of development which have deterred major retailers from venturing into these malls.”

Kishore Biyani, CEO, Future Group feels that retailers are in a period of transition. “There is a higher degree of cautiousness at this time. Everyone is discovering what works best,” he says. “They are deciding where to invest right now so that they can get the best return.” No wonder then that in certain markets, more mall space has not led to increases in occupancy levels.

Take the case of Delhi NCR, which has the highest amount of mall space in India and notched up another 12% increase in supply last year with 4.73 mn sq ft opening up across 18 mall projects. However, vacancy levels are also the highest at 24% of the existing mall stock of 14.6 mn sq ft being unutilised.

“This is largely due to the fact that most of the new space is concentrated in specific locations, creating an excess in that micro market,” says Mahajan. “The concentration has been largely in satellite towns to Delhi like Gurgaon, Ghaziabad, Noida etc. where a large number of projects have been completed but are yet to see a corresponding uptake of space by retailers.”

Some people, however, also believe that since many malls have not been able to attract enough footfalls, big retailers are cautious about taking up space there. “People have come out of the mall culture. That charm and craze is over,” says Ambeek Khemka, group president of Vishal Retail which has been operating successfully in the standalone format.

“Moreover, the drop in rental retail values haven’t been across the board, so these rates are still not attractive enough. Also, a lot of mall developers don’t look at the right product mix which again acts as a deterrant for many top retailers.”

The story is similar in other cities too. Pune, for instance, has recorded the second highest vacancy level of 15.23% of the existing stock of 1.5 mn sq ft. The reason ascribed is that besides having restricted entry of mall space, the market also does not have very high retailer confidence on the overall quality and performance of the new mall space.

In Mumbai, approximately 2 mn sq ft (seven malls) entered the market by the end of Q4, increasing supply by 30% but vacancy levels stood at 10.2%. It is being said this was due to a misalignment in tenant expectation vis-a-vis the profile of the catchment area. So while the mall owners expected an overwhelming response from retailers, the customer profiles did not enthuse potential tenants. The general slowdown in expansion by retailers also contributed to the overall vacancy level in the city.

Southern markets such as Bangalore, Chennai and Hyderabad, however, tell a different tale. Vacancy levels haven’t been as high primarily due to the supply and size of malls, both being restrained in these markets. In 2008, no major malls opened in these southern markets while retailer activity remained stable, keeping vacancy levels in the manageable range of 1%-5%.

http://economictimes.indiatimes.com/...ow/4058380.cms

Elango Why do u try to influence the voters?Why don't people like u so concerned with the problems in Sri Lanka also appeal to LTTE and its Supremo V.Prabakaran to release the poor innocent tamils there.The Srilankan tamil refugees residing in Hyderabad know pretty well who is the villain in the present situation.

[Elango1984]

Originally Posted by ranga

Elango Why do u try to influence the voters?Why don't people like u so concerned with the problems in Sri Lanka also appeal to LTTE and its Supremo V.Prabakaran to release the poor innocent tamils there.The Srilankan tamil refugees residing in Hyderabad know pretty well who is the villain in the present situation.

I am not that much influential person, my signature content exhibits my concern towards my brothers & sisters in srilanka who has suffering from war, i am not supporting LTTE or his leader, my concern is all about tamils, what is right for gaza is also right for lanka, military solution will only end up in massacre of civilians. In Gaza, 1350 civilians were killed, In Lanka 2078 civilians killed so far and still continuing.. Lets urge for ceasefire, please save innocent peoples, even in our kashmir also so many terrorists were mingled with civilians, Are we declaring war against them, No why? for killing few hundred terrorist we need to destroy thousands of civilians, is this right?

Please check the below links and please reply me with private message because i think we should not disturb other forum members

http://news.bbc.co.uk/2/hi/south_asia/7863538.stm

http://edition.cnn.com/2009/WORLD/as...=edition_world

http://www.nytimes.com/2009/02/02/wo...er=rss&emc=rss

http://www.channelnewsasia.com/stori...406373/1/.html

[cncity]

The sri lankan tamils had a big protest in Toronto last week. I dont know what their purpose as the canadian govt would not do anything and shouldnt do anything as LTTE is banned as a terrorist organization in Canada. Hopefully the Sri lankan army takes control over the entire country and ends this LTTE menace.

[coolmukund]

Originally Posted by cncity

The sri lankan tamils had a big protest in Toronto last week. I dont know what their purpose as the canadian govt would not do anything and shouldnt do anything as LTTE is banned as a terrorist organization in Canada. Hopefully the Sri lankan army takes control over the entire country and ends this LTTE menace.

i thought this was a thread to discuss the developments of the various malls coming up in chennai. why are all political issues being discussed here????? isn't there a seperate thread for all these stuff??!!!!!!

[gvenke]

Specification

1. Location : Velachery (chennai)

2. Toatl Area : 3.4 Lakhs Sq.ft

3. Total Retail Area : 2 Lakhs Sq.Ft

4. Toatl Commercial Area : 30,000 Sq.ft ( 9 Ground Space) - G + 2

5. Total Floor : G + 4 (Mall )

6. Total Car Park : 450 ( 2 Basement )

7. Anchor West Side ( G + 2 )

8. Multiplex : Cinemax ( 5 screen ) 1300 seating capacity (3rd + 4th Floor)

9. Food Court : 18,000 Sq.ft ( 4th floor + Terrace Covered )

10. FEC : 2 ( 4th Floor )

11. Sub Anchor : 3 ( Ground + 1st + 2nd )

12. Fine Dinning : 3( 3rd Floor + Terrace )

Floor-Plan









The Grand Velachery




Source: http://www.pssrijan.com/

[Kewl Batty]

MALL & HOTEL, ADYAR, CHENNAI

Land Extent :7 acres
Development Size : 0.7 million sq.ft.



This once again is an upcoming project from TVH. further details awaited.

site: http://www.tvh.in/home.html

[Kewl Batty]

One more upcoming project by TVH..

OMR - Mall & Hotel - 5 acres

[nsantha2]

Originally Posted by Kewl Batty

MALL & HOTEL, ADYAR, CHENNAI

Land Extent :7 acres
Development Size : 0.7 million sq.ft.



This once again is an upcoming project from TVH. further details awaited.

site: http://www.tvh.in/home.html

Where in Adyar is this coming up?

[venkatm]

the old andrew yule property (on the left hand side as soon as you come down from the LB road flyover on the way to Tiruvanmiyur). There is exactly space for 1 bus to squeeze through the gap between the flyover and this property's compund!

[Into_salem]

Six To Eight More Malls Expected To Open In Next Couple Of Years

Chennai: The slowdown may have stalled construction projects across the country, but Chennai is set to get six to eight new malls in the next couple of years, replete with food courts, cinema theatres, gaming arcades and shops.
Many maintain that the slump has not made a dent in the retail market except for high streets like Khader Nawaz Khan Road, Nungambakkam High Road and Cathedral Road-RK Salai. Unlike other cities, Chennai has only two big malls and faces a huge demand-supply mismatch when it comes to organised retail, and retailers too need more space — which is why the new malls are expected to be a hit. According to Jones Lang LaSalle Meghraj (JLLM), a leading real estate services firm, the share of organised retail space in Chennai is under 5%, compared to 35% in Delhi NCR and 17% in Mumbai.
“In another two to three years, six to eight malls are expected to become operational. Two will be functional by this year: Ampa Mall in Aminjikarai will be ready by the first half of 2009 and Express Avenue on Whites Road by the end of 2009,” said Sanjay Chugh, national head of business development, retail of JLLM.
A report by Cushman and Wakefield says 14 malls covering 6.2 million sq ft were to come up in 2010 and 2011, mostly in the southern and western parts of Chennai, but many are now on hold. “Though there are a few projects listed on paper, only three or four malls will probably become operational in two years,” said Rajneesh Mahajan, executive director, retail services at Cushman and Wakefield. “There is limited spending on the ground and construction activity has slowed. It is hard to tell how many projects will stick to schedule,” he said.
Though projects are stalling due to the slowdown, those underway will continue according to plan. For instance, Ampa Mall, under construction for more than two years, is now nearing completion. “None of us expected a slowdown to hit us,” said Ampa Palaniappan, owner and developer. “But since we’ve already weathered the storm, we can only expect growth now.” He said Ampa Mall would be the first hyper market (a hyper market covers roughly about 60,000 sq ft and has both supermarket and departmental stores) in the city. “We have retained most of our clients due to reasonable rentals,” added Palaniappan, through whose mall PVR Cinemas will be entering the city.
The slump has changed business strategies and models, and reduced rental rates. “According to the earlier model, the rent-revenue ratio would be as high as 40%, which was unrealistic. But now rates have been revised, say for a smaller store (1,000-2,000 sq ft) it would be 18% of gross sales,” said Chugh. “The upcoming malls are in different corridors, so even if there is delay, there is a definite demand,” he said.



http://epaper.timesofindia.com/Defau...Mode=HTML&GZ=T

[Kewl Batty]

Total Land Area 7,20,000 sft
Total Retail Area 6,30,000 sft
Office Area 4,30,000 sft
Hotel Room 264 nos 2,80,000 sft
Hotel Retail Area 1,200 sft
Entertainment Area 41,000 sft
F & B Area 84,000 sft
Multiplex 1,08,000 sft
Service Apartment 174 nos 1,00,000 sft
Night Club 8,000 sft
Parking Area for Main Mall (Mall+Hotel+S.A) 1,700 nos 6,35,000 sft

Nos of levels
Retail 5 lvls Lower ground, Ground, First, Second, Third (Multiplex & projection lvl.)
Parking (Mall) 12 lvls B2 (Full), B1& Mezzanine of MLCP, Ground + 8lvls of MLCP.
Hotel 11 lvls B2 +B1+ Ground + Lounge+ Service & BOH + 6 Flrs of Rooms (Shangri-La)
Service Apt 11 lvls B2 +B1+ Ground + Service+ 7 Flrs of Rooms
commercial/ IT Office 12 lvls (G+8 Flrs)B3, B2, B1, Ground + 8 flrs
Parking (office)a B3, B2, B1 & Ground

Source:http://www.thephoenixmills.com/retai...snap-shots.asp

[Kewl Batty]

[rjg_2186]

Good to see all the details about various malls that will be coming in and around chennai. !!!!!!!!!!!!!!!!!

[ferrari_fan]

Originally Posted by Kewl Batty

MALL & HOTEL, ADYAR, CHENNAI

Land Extent :7 acres
Development Size : 0.7 million sq.ft.

This once again is an upcoming project from TVH. further details awaited.

site: http://www.tvh.in/home.html

Wow - that's big - terrible location though - LB Road is already so congested..

BTW, does anyone else think this looks rather like Rayala Towers near Spencers?

[dis.agree]

Originally Posted by ferrari_fan

Wow - that's big - terrible location though - LB Road is already so congested..

i think with more such construction activities, we could expect this road to be widened sooner. you will notice all new buildings have compound wall well inside. as per master plan 2, it is a 100 ft road, if my memory is right.

[ferrari_fan]

Oh that's good news..

[kannan infratech]

We have done some traffic study near the LB Road flyover earlier.

Unless the mall have alternate entrances and exits on other roads, it will be chaos.

The situation in Forum Mall (Vijaya Studios) at Vadapalani is also very similar if not so accute.