Delhi haunted by highest number of ‘ghost malls’, 1.14mn sq ft space lies empty in Mumbai

A report by property consultant Knight Frank, has shed light on a ‘ghost mall’ problem in Indian cities, which has caused a $524 million loss. A lot of malls with lower than 40% occupancy have emerged in metropolitan India, with 57 malls in eight cities facing varied degrees of deterioration in the post-pandemic era. Among metros, Delhi’s malls had the most vacant space at 40%, followed by Bengaluru at 18% and Hyderabad at 16%.