Amidst the saturation of metropolitan areas and prominent tier I cities across the nation, the spotlight has now shifted towards tier II cities, offering a promising landscape for real estate developers. Chandigarh, in particular, has experienced an overwhelming response from developers eager to initiate construction projects in the region.
Currently, Chandigarh boasts three operational shopping malls, namely Fun Republic, Uppal’s Centra Mall, and DLF City Centre. In addition, other malls set to become operational in the forthcoming years include TDI Mall and City Emporio Mall. Furthermore, the Paras Downtown Square mall-cum-multiplex located in Zirakpur is anticipated to launch within the current year.
Despite ongoing debates concerning the success of these malls, city residents have embraced them, grateful for the diverse options they provide. Moreover, these establishments are instrumental in generating job opportunities for local inhabitants. Local real estate agents suggest that each shopping mall has the potential to create around 200 jobs. As more malls are established in Chandigarh, the total employment opportunities available for residents could reach into the thousands.
Analysts from the global real estate consultancy Jones Lang La Salle Meghraj affirm that these shopping malls are undoubtedly contributing to job creation in the area.