The Growing Demand for Retail Spaces in Mohali and other Indian Cities

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Real estate industry in India continues to evolve. Many mix use developments have come up that offer residential as well as commercial properties. Mohali, which is one of the cities known for modern real estate development, is turning into a major residential and business hotspot in North India. Realtors have been building spaces to offer to investors and home buyers where one can start off his big business.

Despite the growing popularity of online commerce, traditional retail stores continue to be popular in all parts of India because people love the physical experience of shopping. They like to see the products physically, hold it in their hands and don’t want to miss the chance of a bargain. Some people even come to shop for just retail therapy. The physical experience of shopping is something that online stores can’t provide. This is why the real estate developers are creating state-of-the-art shopping destinations. These days, many real estate projects have specific areas for shops. This makes it easier for people to purchase the required products conveniently.

The Changed Perception of Shopping

The way of shopping has evolved from buyers going to local sellers/vendors and getting commodities in exchange of money. Let’s take a look at some of the influential factors that have brought about the change-

  • The economic status of people has significantly improved. With more money, they are able to spend more and buy such goods and services, and they can afford.
  • Financial stability and affluence encourage them to go for brands, move from local to global brands, shop from high-end shopping centres and indulge in the experience of luxury shopping.
  • Shoppers are also highly influenced by their peers, neighbours, colleagues and other people with whom they interact. They get to know about the new products and services, and this sense of comparison encourages them to own the same products and buy them from the same or even better places.
  • Shopping in high-end shopping malls lend them a sense of achievement and gaining a higher status. This further motivates the customers for shopping in glamorous shopping malls.
  • Shopping in a mall is an experience in itself because of its private atmosphere. You can take a break from shopping and watch a movie, have food at the cafeterias and lavish restaurants, kids can play at the play stations. Everyone can have a perfect time.

Experts have observed that there has been a phenomenal growth and increase in numbers of shopping malls and speciality retail stores. They have also found that despite the presence of such a huge number of shopping malls, not all could reap profits. Only the ones that could offer a desirable community experience have been gaining.

If you too are looking for a space to start your business, there are some important factors that you should take into consideration. Choosing the right location will make it easier for you to meet the target and make your retail business a success. Many real estate giants have come up with mixed residential projects that offer spaces for commercial use in Mohali. Right from commercial plots to shop cum offices, these projects meet all types of requirements of businesses. You can easily purchase a shop in a project and open your own store or fashion studio.

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