Real Estate dynamics are changing. Now the buyer is more aware and need clear cut facts before taking any decision for buying property. No one likes to buy just on recommendations but likes to understands the reasoning before undergoing any investment.
Many a time we have a question in the mind looking into the so much of developments taking place in real estate with so many malls already in place. The question is despite such a pace of ecommerce growth and so many malls already in place, will they survive and will new markets have its place and give returns?
In order to answer this question, the property buyer needs to understand a few things:-
First one needs to identify which are the markets are giving the highest growth in customer base and retail. These are Delhi-NCR, Mumbai and Bangalore which are taking the top positions in the country. In fact, Delhi NCR has the largest customer base across all the cities in India and in the year 2016-2018, the real estate retail segment in this area has seen 24% compounded annual growth rate.
Gurugram is the only city leading the NCR in total retail spending in entertainment. As far as data is concerned, despite rise of ecommerce, retail sales generated 91% of its sales. Entertainment is an investment in 64% in retail malls.We need to understand the shopping experience of people. If anyone wants to buy a shirt and also go out for dinner, he may not just go anywhere and different places for that. The family will plan the visit in a manner where everyone gets his/her things at one place. Everyone can get a food of choice –North Indian /South Indian or Chinese etc. Kids would need entertainment with games or family can watch a movie together. That can be made possible only in a well planned high street markets which has all the elements for everyone. Therefore 60% of business in malls contributed by fashion retail and 65-80% of crowd in malls is drawn by Food and Beverage. So a family looks out for a place which is all in one place where one can have shopping, food and entertainment all at one place.
The new project from M3M actually achieves the need of the hour. Placed at the Golf course extension road in Sector 71, Broadway has elements of success of high street retail low maintenance market place with double Side entry from extension and 24 m road Hi street retail. The architecture partners are Bentel Associates International who has reputation of international repute for best designing in this field. The project has Internal Boulevard with escalators and elevators.
M3M has already started the process of joining hands and achieved to a large extent with many a national and international brands to open shops here at the time of launch.
As a developer M3M is at the slot no 3 in terms of sales all over the country and is No 1 in North India. In commercial sales M3M is at the first position in India. They have delivered 1 Lac square feet in last one year with projects like M3M Golf Estate, M3M Cosmopolitan, Woodshire, Urbana and another 130 lac square feet is under development and the group owns 2200 acres of prime land bank with majority of spread on Golf course extension road and Dwarka Expressway in Gurgaon.
To know more details on the project of M3M Broadway , check the link-