Ansals plan malls in Jaipur, UP, Punjab

The Sushil Ansal-promoted Ansal Properties and Industries group is planning to replicate the experience of mega malls in B category cities.

"We will soon set up malls under the Ansal Plaza brandname in Jaipur and a few cities of Uttar Pradesh and Punjab," said D Sachdev, vice-president of Ansal group.

Ansal Properties is looking at one million square feet of area in northern India for malls. Sachdev said the group was studying the markets of Jaipur and some cities of UP and could spend around Rs 500 crore on the various projects in northern India. The group is planning six new mall projects in Haryana, Punjab, Rajasthan and UP.

"We are examining various geographies where people have the willingness to spend. North India is our focus zone as it is the catchment area with high disposable income levels," he said.

Malls in smaller cities will be customised to fit the local scale and demand. Ansal Properties will look at rightsizing of malls and there will be appropriate mix of product and potential. There would also be a proper filtering of brands, he said.

Sachdev said though the national capital region (NCR)"" Delhi and surrounding satellite towns "" seemed saturated, the group was still considering it a high potential zone with higher and middle income groups shifting base to Noida, Gurgaon and Faridabad.

"Palam Vihar, for instance, is a region where there are nearly 2,500 families residing and there is lack of organised retailing. We are eyeing such locations," Sachdev said.

The company has two plazas in Delhi and Faridabad. It had announced three projects in Ludhiana, Greater Noida and Gurgaon a couple of years ago.

The real estate major, however, is wary of venturing into southern and eastern states as it apprehends strong competition from local players there.