This story is from December 29, 2019

High street cheer right up AS Rao Nagar’s alley

High street cheer right up AS Rao Nagar’s alley
Secunderabad: Retail space absorption in the eastern corridor has picked up pace over the last one year with many large retailers making in-roads to AS Rao Nagar, which has recently emerged as the next hub for retail stores.
In 2012, global real estate consultancy Cushman Wakefield in a study had stated that the steepest hike in rentals across the country was recorded in AS Rao Nagar.
Seven years later, many big brands have set up shops in AS Rao Nagar, making it the most sought after area in the eastern corridor.
Real estate experts claim that over the last few years, AS Rao Nagar has transformed into a busy main street with several standalone, commercial establishments that cater to banks, small and mid to large format apparel, jewelry, fast fashion stores and restaurants. While the central and western zones have areas such as Punjagutta and Kukatpally, the AS Rao Nagar is emerging as an alternative hub for local residents in the eastern zone.
Over the last one year, brands such as Joyalukkas, KLM Fashion, Westside among others have opened their stores in AS Rao Nagar. By next year, brands such as Pantaloons, Mangalya and Big Bazaar are also expected to enter the market. While there is an increasing demand for retail activity, experts claim that the limited availability of space is a concern for the area.
“Most of the existing properties are at least 7-10 years old, don’t have bigger floor plates and lack enough frontage, parking, visibility and are not suitable for the new age retail brands. Retailers reinvent themselves every 3-5 years and they also look at repurposing their spaces during the process,” said Veera Babu, managing director of Cushman Wakefield.
While the area doesn’t have enough inventory to suit such requirements, experts suggest that there is high demand for quality mall space that provides a complete shopping experience in AS Rao Nagar and the immediate surroundings.

“Spending capabilities of those living around AS Rao Nagar has increased over the past few years. Earlier, people used to travel all the way to Punjagutta and Banjara Hills for shopping. But now, AS Rao Nagar has emerged as a great alternate for people to fulfil their needs,” said Tapas Patel, managing director of Om Sree Developers, one of the key developers in the area.
GFX
Qtr/Year
Brand
Area (sf)
Q3 2018
Reliance Trends
18,000
Q4 2018
Swiggy Access
7,000
Q2 2019
Westside
16,000
Q2 2019
Joyalukkas
10,000
Q3 2019
KLM Fashion Mall
36,000
Ongoing
Pantaloons
15,000
Ongoing
Mangalya
30,000
Ongoing
Big Bazar
36,000
FACTFILE
· AS Rao Nagar was established to provide residential facility to employees of Electronics Corporation of India Limited and Nuclear Fuel Complex
· The area has over 1,200 houses with a population over 12,000
· Growth in retail activity in the area is propelled by increase in per capita income of residents living in the surrounding areas
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