NIFT UG 2013 Question Paper with solutions

Over half of the total number of malls in the Delhi National Capital Region (NCR) are vacant due to reasons like economic and lack of robust revenue generation model, according to a survey conducted by the Associated Chambers of Commerce and Industry of India (Assocham). The total rate of vacancy in malls in Delhi NCR is 55% while in Mumbai it is 52% followed by Ahmedabad-51%, Chennai-50%, Hyderabad-48% and Bangaluru-45%. The survey further said that construction of several malls have significantly been delayed and withdrawn due to lukewarm response from retailers. Vacancy levels are due to poor location, poor design and poor parking facilities while some are operating at 60% occupancy. The industry is also facing problems like multiple taxes, lack of clarity in policies and shortage of experts in areas such as supply chain and store management. Biggest shopping mall can feel like a pretty lonely place. Majority of retailers said that they are holding back on new store openings and focusing on existing stores. The sharpest decline in mall rental values are also recorded high in Delhi-NCR followed by Mumbai, Ahmedabad, Chennai, Hyderabad, Bangaluru, Kolkata and Pune. Most of the shop owners, who participated in the survey said that increasing rents will not work because at the end of the day, it has to be affordable for retailers to do business. There are about 1,200 shopping malls in the country. Due to high rent and lack of proper infrastructure for luxury retailing, many international brands are opting for online retailing