Hyderabad ranks third in high street stores among top Indian cities

Hyderabad: Hyderabad stands out as one of the top cities in India for high street retail, following closely behind the National Capital Region (NCR) and Bengaluru, according to the latest ‘Think India Think Retail 2024’ report by Knight Frank India. The report highlights that out of the 82 per cent of stores located in the top eight cities, Hyderabad accounts for 15 per cent of them.

The report identifies five prominent high streets spread across Hyderabad, contributing significantly to its retail sector. These high streets are located in key areas such as Ameerpet, Banjara Hills, Gachibowli, Jubilee Hills, and Somajiguda, each offering a unique shopping experience to residents and visitors alike. According to the primary retail store survey conducted by Knight Frank India, as of 2023, Hyderabad boasts a total shopping center stock of 0.6 million square meters (6.7 million square feet).

Additionally, the report delves into shopping center vacancy rates in Hyderabad, excluding ghost stock. In 2022, the vacancy rate stood at 22.2 per cent, indicating a substantial availability of retail space. However, after excluding ghost stock, the vacancy rate drops significantly to 6.6 per cent, showcasing a tighter retail market. This positive trend continued in 2023, with the vacancy rate further decreasing to 17.4 per cent, reflecting a growing demand and occupancy in shopping centers across the city.