Out of 21 Tier-2 cities in India, Lucknow has emerged as the leader in terms of gross leasable area (GLA) for shopping centres.
The city has an amazing 5.7 million sq.ft. of GLA, which as of 2023 surpasses the stock of operating shopping centres in major towns like Kolkata and Ahmedabad, according to the most recent study report from Knight Frank India.
This establishes Lucknow as a participant in the retail real estate market, with the city providing 5 per cent of the 125.1 million sq.ft. of stock in shopping centres throughout the 29 Indian cities that were examined. Lucknow’s supremacy is highlighted by the primary survey conducted by Knight Frank India, which examined 340 shopping centres in these cities, including 21 Tier-2 cities.
The city’s GLA further emphasises its major position in the retail sector, accounting for a substantial 18.4 per cent of the 30.8 million sq.ft. total across these Tier-2 cities.
With 5.7 million sq.ft. of GLA, Lucknow is the largest of the Tier-2 cities, followed by Kochi (2.3 million sq.ft.) and Jaipur (2.1 million sq.ft.). These numbers demonstrate Lucknow’s dominant position among its competitors in the retail sector. In terms of retail space, the city has not only overtaken some Tier-1 cities but also other Tier-2 cities.
In terms of GLA of retail centre stock, Lucknow is ranked eighth in the nation, surpassing cities like Kolkata (5.5 million sq.ft.) and Ahmedabad (3.2 million sq.ft.). Bengaluru (15.6 million sq.ft.), Mumbai (16.3 million sq.ft.), and the National Capital Region (31.3 million sq.ft.) are the top three cities in this ranking.
Lucknow’s impressive results rank it as one of India’s most desirable cities for retail space, highlighting its expanding significance in the country’s retail sector. The study also shows that in 2023 Lucknow attained a noteworthy shopping centre density of 1,439 sq.ft. per capita, a statistic that highlights the city’s strong commercial infrastructure.
More than 580 retail stores with a well-balanced selection of both domestic and foreign brands are housed in Lucknow’s functioning shopping complexes, serving a wide range of customers. This density is evidence of Lucknow’s capacity to supply the city’s expanding population’s retail needs.
