Pall over malls: Will Pune be the next retail graveyard?

With vacancy levels in its malls hitting 27%, Pune could be the next graveyard in India for retailers and developers after Ahmedabad. Retailers are being compelled to scale back as consumer spends slow down and as a result mall space is going a-begging. Although the situation isn’t as bad as it is in Ahmedabad — where vacancy levels have crossed 30% on average — it’s clear developers have been overzealous.

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