Mysore's changing profile in retail space

The FDI in retail may have been put on hold for now, but that has now slowed down the retail space activity in a Tier II city like Mysore which for long has been promoted as preferred choice for investors after Bangalore.

While emergence of multi-brand retail showrooms may have been slow in city giving an impression of lack of potential, the fact remains that the market penetration was low and latent potential for such retail has not been tapped and the investors have begun to perceive an opportunity in the present scenario.

Commercially vibrant

Over the years, Mysore has undergone a shift in its personality and has been rated high for its potential to emerge as a commercially vibrant city.

The slow but steady influx of a few large industries has contributed to it while improved connectivity to Bangalore and change in people's aspirations too have helped.

The city has seen the opening of two multi-brand malls in recent months and three more are in the offing. This is apart from the chain of mini-retail brands dealing with day-to-day consumables including grocery that have proliferated in the residential areas.

Not withstanding the slow down in investment coming to Mysore in the last two or three years, the investors in retail space are taking a long term view of the city and this is evident in the emergence of chain stores like Aditya Birla group's More, Reliance Digital and Reliance Fresh, Westside of the Tata group, Loyal World, Big Bazaar etc to name a few. The Easy Day Market of Bharati Retail at B.M.Habitat Mall, Jayalakshmipuram, is over 36,000 sq.ft while the complex housing it is fast gearing up for adding more premium brand stores.The four multiplex screens are already functioning. Likewise, the Mall of Mysore at the Raddison Hotel complex on the M.G.Road near the Race Course is another. Promoted by the Delhi-based DM South India Hospitality Group, the five-star hotel and the mall have a built area of nearly 1.50 lakh sq.ft and 2.4 lakh sq.ft respectively.

Reckoned to be biggest mall as of now in Mysore, it has been designed by Mumbai-based P.G.Patki Architects.