DLF mall retailers demand 50% reduction in rent
DLF, the countrys biggest realty developer, is facing protests from retailers over rentals and maintainence charges. The majority of the retailers at DLF Place Saket and DLF Place Vasant Kunj, both in New Delhi, have downed shutters demanding a reduction in rentals and maintenance charges, while retailers at DLF Emporio (Indias first luxury mall) are contemplating shutting shop, if the management does not reduce rentals by 50 per cent.
Tarun Maglani, spokesperson, Mall Welfare Association, DLF Place, Vasant Kunj, claimed that 80 per cent of storeowners at DLF Place Saket had pulled down their shutters. DLF Place, Saket opened in November last year; DLF Place, Vasant Kunj opened in January.
DLF is already facing protests from home buyers at its Garden City project in Chennai and New Town Heights project in Gurgaon.
More : business-standard.com