India Real Estate Monitor

With the saturation of metros and major tier I cities across the country, the focus has now shifted to tier II cities, which has turned to be fruitful for realtors.
Chandigarh has been overwhelmed by the response it got from the realtors who are keen to start their construction activities.
The three operational malls in Chandigarh include Fun Republic, Uppal’s Centra Mall and DLF City Centre.
Other malls that are likely to be operational within next few years are TDI mall and City Emporio Mall. Also Paras Downtown Square mall-cum-multiplex at Zirakpur is likely to be operational year only.
The success of these malls continues to remain a topic of debate for many however people of the city have welcomed such malls as they offer them variety.
They also help in creating employment opportunities for the locals.
According to local realtors one shopping mall creates job opportunities for around 200 people and with more malls opening in Chandigarh, the employment opportunities for local people could be in thousands.
The analysts from global real estate firm Jones Lang La Salle Meghraj maintain that the shopping malls undoubtedly are generating employment opportunities.