which will house a 4 cinema multiplex, shopping area, food court and an entertainment zone in an area of 11,148 sm. Among the major department store operators, Globus is expected to make its maiden foray into Mumbai in November 2001 with a 5,500 sm dedicated retail establishment on Hill Road in Bandra.
Valuation is the required process when you are going to purchase new home or other commercial properties from auctions Another specialty coffee parlor on these lines, Coffee Mantra, was launched recently in Mumbai. Its first coffee parlor is located at Fort, and another one at Napean Sea Road with plans to shortly open a third outlet at Juhu. Adjoining the Coffee Mantra at Fort is a lifestyle furniture salon, Yantra, promoted by Birla Lifestyle. Groceries retailer HAIKO, is planning to open two more supermarket stores in Mumbai.
Building on the success at its only store till date at Powai. The other two HAIKO supermarket stores are coming up at Andheri (930 sm) and at Mulund (1,860 sm). Unorganised retail in Mumbai, which accounts for the bulk of retail transactions, is expected to face stiff competition from the organised sector. There has been a steady increase in the number of outright sale transactions in the high value residential segment over the last three months. In buildings such as Mont Blanc in Malabar Hill and Somerset House in Bhulabhai Desai Road, there has been a marginal increase in values.
Rental rates have stabilised with yields varying between 5 and 8% and are likely to remain stable over the coming months. Rentals depend on the location, building, floor and gentry in the building. One deterrent in the rental market has been the ambiguity on the forthcoming changes in property taxes.