Koramangala and Indiranagar, though a relatively new high street, are facing a serious space shortages with most new developments only replacing the older ones.
The main reason for shortage of retail space in Bangalore is attributed to nil supply of mall space in the last two quarters.
According to Cushman & Wakefield research: "Barring the supply of 6.1 million square feet of retail space by 2007-end, the first quarter (Q1) of 2008 did not see any new additions to mall space in Bangalore. Even the most anticipated of all mall launches - UB City's