Lucknow tops the list of 21 Tier 2 cities in the country with the highest gross leasable area (GLA) for shopping centres with almost 5.7 mn sq ft, surpassing the operational shopping centre stock of major cities such as Kolkata and Ahmedabad in 2023.
On the second spot was Kochi with 2.3 mn sq ft followed by Jaipur with 2.1 mn sq ft, according to Knight Frank Indiaโs research report โ Think India, Think Retail 2024.
Recently, Knight Frank India conducted a primary survey of 340 shopping centres across 29 Indian cities, including 21 Tier 2 cities such as Lucknow.
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In 2023, Lucknow contributed 5% to the total 125.1 million sq ft of shopping centre stock across these 29 cities. Additionally, Lucknow also ranked 7th in terms of gross leasable area of shopping centre stock in the country.
Here’s how the numbers stack up
Looking specifically at the 21 Tier 2 cities, Lucknow accounted for an impressive 18.4% share of the total 30.8 mn sq ft of GLA across these cities in India, the survey showed.
According to Knight Frank Indiaโs Think India Think Retail report, Lucknow has achieved a notable shopping Centre density of 1,439 sq ft in 2023. The operational shopping centres in the city host more than 580 retail outlets, half of which are of Indian origin, while those of international origin trail closely.
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โAs the capital of UP, Lucknow plays a key role in driving the stateโs economic activities. The city faces increasing demand for retail real estate to serve its growing aspirational population Lucknow’s notably high shopping centre density highlights its strong commercial infrastructure, effectively meeting urban needs,โ said Abhishek Sharma, Senior Director – Retail Agency, Knight Frank India.
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