21-mn sq ft of retail oversupply in key cities by 2012

The four metros along with Pune and Hyderabad is expected to have around 21 million sq ft oversupply in retail properties by 2012, revealed a new study.

While the country’s organised retail market is expected to grow from Rs32,400-crore in 2010 to Rs54,700-crore in 2012, the real estate retail potential (RERP), which indicates mall supply, will grow from Rs43,000-crore in 2010 to Rs75,400-crore in the next two years, the study titled ‘India Organised Retail Market 2010’ by global property consultant Knight Frank displayed.

As a result, the oversupply is expected to grow from 11.46 million sq ft in 2010 to 21 million sq ft in 2012, according to the study.

Pune with 5.78 million sq ft, Bangalore and Hyderabad with 5.41 million sq ft and 3.41 million sq ft of oversupply, respectively, are among the cities with highest oversupply.