Inorbit Mall

Inorbit Mall

Inorbit Mall Logo
Location Malad, Mumbai;
Vashi, Navi Mumbai;
Cyberabad, Hyderabad,Vadodara, Pune
Opening date 2004
Developer K Raheja Corporation
Owner K Raheja Corporation
No. of stores and services 5[1]
No. of anchor tenants 2 in each Property
Total retail floor area 600,000 square feet[2]
Parking Available
Website www.inorbit.in
Exterior of Inorbit Mall, Malad
Interior of Inorbit Mall, Malad
Inorbit Mall by Sunset

Inorbit Mall is a subsidiary of the K. Raheja Corporation which runs shopping malls in various parts of India.[3] The first Inorbit Mall opened in 2004, in Malad, Mumbai.[4] Inorbit Malls launched their second property in Navi Mumbai at Vashi, in October 2008;[2] third in Hyderabad in Oct 2009.[5] fourth in Pune in April, 2011, fifth in Bangalore on 15 September 2012 and sixth in Vadodara on 5 September, 2013.[6]

The company follows a lease-plus-revenue mode revenue model for all its properties.[7]

Inorbit Malad

Inorbit Mall, Malad was the first shopping mall to open under the Inorbit umbrella, in 2004. It was designed by architectural firm P.G. patki and Associates[8] and is counted among the better planned malls in the city.[9] At the time, it claimed to be the biggest mall property in South East Asia, housing Mumbai's largest food court.[10] In 2008, the mall was retrofitted for energy efficiency by Johnson Controls Inc under the Clinton Climate Initiative (CCI).[11][12] The mall has five lakh square feet of retail area.[13] The property was part of a civil suit, filed in 2008 by industrialist Nusli Wadia, owner of the land which was leased to K Raheja Corporation claiming damages for violation of the said lease. Wadia requested the court to direct the mall be demolished.[14] In 2012, the Bombay High Court recommended that both parties appoint a third party valuer for the property and that the valuation be conducted every six months to calculate the 12% of the realisation figure that Wadia is entitled.[15]

The mall houses 26 restaurants and the foodcourt is spread over 12,000 sq. ft and seats 800 people at a time.[16] The restaurants at Inorbit Malad are sought after and waiting times are as long as three hours for a table. After the Inorbit Malad experience, the company has doubled the number of restaurants in subsequently developed mall spaces.[17] Due to the number of footfalls, the mall hosts a variety of promotional events. In 2007, Panasonic displayed the world's largest plasma screen at Malad.[18] Inorbit Malad frequently hosts Music releases of top bollywood movies. Movies which have had their music launched at the mall include The Dirty Picture[19] and Don.[20] Other bollywood events held at Inorbit Malad include pre-film promotional events attended by filmstars, like one attended by Asin to promote Ready and fashion brand Provogue as well as a launch by socialite Paris Hilton[21] in 2011.[22] Other events that have taken place at Inorbit Malad include an international boxing bout held by World Series of Boxing (WSB) in 2011.[23] It is the first mall in the world to have held such an event.[24] During large sports events such as the Indian Premier League, Inorbit installs large screens in food courts to retain clientele.[25][26] The mall is said to generate revenues of between 800 million[13] and 840 million[27] per annum and attracts 40,000 visitors each weekend.[27]

In 2010, Inorbit Malad launched "Mall Walk", a scheme where people could use the mall property for their morning walks at no cost.[28] The development of Inorbit Mall has led to street hawkers setting up shop on the opposite side of the road, which was earlier a hawker-free zone. These hawkers synchronise their timings with that of the mall, with mall employees and customers being their clientele.[29] The mall often plays host to cooking classes, self-defence workshops and free music concerts.[30]

Inorbit Vashi

Inorbit Vashi is credited with changing the face of the area, as until then there were no big brands having a presence in Vashi.[31] Residents of neighbouring areas have voiced their wishes for an Inorbit Vashi type of mall to be built in their area as well.[32] The mall is known as a "one stop destination" for shoppers in Mumbai as well as for offering wifi facility at no cost to shoppers.[33] The mall frequently hosts music events called "Live @ Inorbit" and has hosted bands such as The Yagna,[34] Split,[35] Live saver,[36] Chain reaction[37] and Inertia.[38] In 2010, the mall ran an initiative called Aikya where it displayed a sand sculpture of a rhinoceros to promote wildlife conservation.[39] As of July 2014, the mall offers many places to eat - Pot Pourri, Kareem's, Lemon Grass, Soy Street, KFC, Garden Court Restaurant, Starbucks, and The Bowl House are a few of the restaurants at Inorbit mall vashi[40]

Inorbit Pune

Inorbit Pune is spread over 500,000 square feet.[41] In May 2011, Faces Cosmetics opened its first store in India at Inorbit Pune[42] and in July 2011, Cinemax launched a four screen multiplex at the mall.[43] In 2012, the Essel Group chose Inorbit Pune to launch the first outlet of EsselWorld Freeze.[44]

Future plans

Inorbit has planned an expansion of the Malls in other cities including Bangalore.[5][45] In 2011, it was reported that Inorbit was interested in buying under-construction malls Pune, Delhi and Kochi to expand its business.[46]

References

  1. ↑ "Inorbit to invest Rs 1400 crore on 8 malls". Business Standard. 17 July 2009.
  2. 1 2 "Inorbit to open three more malls pan-India". Business Standard. 16 July 2008.
  3. ↑ "285 more malls seen coming up by 2010". Business Line. 10 March 2007.
  4. ↑ "Inorbit Malls is planning luxury and discount malls across India". Mint. 1 July 2007.
  5. 1 2 "Inorbit plans 3 more malls, to invest over Rs 600 cr". Business Line. 15 October 2009.
  6. ↑ "We're looking to deliver one mall every year". Financial Express. 21 February 2011.
  7. ↑ Gopal, Prashant (5 April 2007). "Mall developers, retailers take to revenue sharing". Hindustan Times. Retrieved 17 July 2012.
  8. ↑ Dholakia Anwar, Hasan. Marketing Practices in Developing Economy. PHI Learning Pvt. Ltd. p. 55. ISBN 8120337824.
  9. ↑ "Manage that mall". The Economic Times. 4 December 2005. Retrieved 17 July 2012.
  10. ↑ Tiwar, Ashish K (31 May 2004). "Inorbit Mall To House Mumbai's Largest Food Court". The Indian Express. Retrieved 13 July 2012.
  11. ↑ "Johnson Controls wins India mall work, magazine honor". The Business Journal. 19 February 2008. Retrieved 13 July 2012.
  12. ↑ "Clinton Climate Initiative to be implemented in Mumbai's largest mall". Hindustan Times. 2 June 2008. Retrieved 19 July 2012.
  13. 1 2 "Inorbit mall to be sold-off?". Moneycontrol.com. 11 February 2006. Retrieved 13 July 2012.
  14. ↑ "Wadia moves court against Rahejas". The Economic Times. 15 May 2008. Retrieved 13 July 2012.
  15. ↑ Vyas, Maulik (13 July 2012). "Bombay High Court adjourns Nusli Wadia-Gopal Raheja case on Monday". The Economic Times. Retrieved 17 July 2012.
  16. ↑ Goswami, Rachit (29 July 2007). "Delightful Spread If variety is the spice of life, then food courts are the flavour of the season. We present some of the most popular food courts across six cities that offer delectable cuisine and a peppy ambience.". Business Today. Retrieved 16 September 2013.
  17. ↑ "Mall developers give food courts prime attention to step up sales". Hindustan Times. 17 December 2007. Retrieved 17 July 2012.
  18. ↑ Gokhla, Madhavi. "Panasonic Display at Inorbit Mal". Techtree.com. Retrieved 13 July 2012.
  19. ↑ "Live and Loaded: Vidya's live show at The Dirty Picture music launch". NDTV. 4 November 2011. Retrieved 13 July 2012.
  20. ↑ Kumar, Nikhil. "Shah Rukh at his best at the 'Don' music launch". Retrieved 13 July 2012.
  21. ↑ "Paris Hilton gives $100 to Mumbai beggar". NDTV. 26 September 2011. Retrieved 13 July 2012.
  22. ↑ "Asin jazzes up 'Ready' party". Indian Weekender. 30 May 2011. Retrieved 13 July 2012.
  23. ↑ "Mumbai: Inorbit Mall to Host Boxing Match Friday". Indo Asian News Service. 8 December 2011. Retrieved 13 July 2012.
  24. ↑ "Mumbai Fighters to host LA Matadors in a mall Friday". Hindustan Times. 6 December 2011. Retrieved 19 July 2012.
  25. ↑ Mehta, Mona (31 May 2008). "Retail pays price of IPL popularity". The Financial Express. Retrieved 13 July 2012.
  26. ↑ "'Go India go' cheer pubs, multiplexes". Daily News and Analysis. 2 April 2011. Retrieved 17 July 2012.
  27. 1 2 "Inorbit Mall: New partner likely". Times of India. 4 February 2006. Retrieved 13 July 2012.
  28. ↑ "Morning walk at Malad mall". The Indian Express. 25 May 2010. Retrieved 17 July 2012.
  29. ↑ Anjaria, Jonathan Shapiro (2008). Unruly Streets: Everyday Practices and Promises of Globality in Mumbai. ProQuest. p. 178. ISBN 0549763872.
  30. ↑ Pinto, Richa (27 May 2012). "Summer carnival for kids". Daily News and Analysis. Retrieved 19 July 2012.
  31. ↑ Tawade, Rahul M (17 April 2012). "'We are the first five star deluxe hotel in Mumbai'". Daily News and Analysis. Retrieved 19 July 2012.
  32. ↑ Kulkarni, Prachee (18 April 2012). "Pimpri-Chinchwad emerging as shopping hubs for students, IT, foreign return employees". The Economic Times. Retrieved 13 July 2012.
  33. ↑ "6 Shopping destinations in the city". Daily News and Analysis. 18 December 2011. Retrieved 19 July 2012.
  34. ↑ Pinto, Richa (15 November 2011). "The Yagna's music rocks city". Daily News and Analysis. Retrieved 19 July 2012.
  35. ↑ "Gig alerts: April 22". Hindustan Times. 22 April 2010. Retrieved 19 July 2012.
  36. ↑ Pinto, Richa (1 November 2011). "Live Saver's electrifying performance mesmerises shoppers". Daily News and Analysis. Retrieved 19 July 2012.
  37. ↑ Pinto, Richa (14 August 2011). "Chain Reaction creates chemistry with listeners". Daily News and Analysis. Retrieved 19 July 2012.
  38. ↑ Pinto, Richa (11 December 2011). "Audience grooves to Inertia". Daily News and Analysis. Retrieved 19 July 2012.
  39. ↑ "Sand rhinoceros on display in city". Daily News and Analysis. 21 November 2010. Retrieved 19 July 2012.
  40. ↑ "Restaurants in Inorbit Mall Vashi".
  41. ↑ Sapre, Omkar (11 April 2012). "Pune emerges as shopping hotspot with over 100 hotels and 20 malls, more to come up soon". The Times of India. Retrieved 13 July 2012.
  42. ↑ "Canada's Faces eves Indian market.". Hindustan Times. 6 May 2011. Retrieved 19 July 2012.
  43. ↑ "Cinemax India Launches four screens multiplex at Inorbit Mall - Pune". Equitybulls.com. Retrieved 17 July 2012.
  44. ↑ "Pan India Paryatan launches EsselWorld's mall format". The Hindu Business Line. 3 July 2012. Retrieved 17 July 2012.
  45. ↑ "Inorbit to open three more malls pan-India". Financial Express. 17 July 2009.
  46. ↑ "Inorbit eyes properties in Pune, Delhi, Kochi". Hindustan Times. 8 October 2011. Retrieved 19 July 2012.

External links

Wikimedia Commons has media related to Inorbit Mall.
This article is issued from Wikipedia - version of the Friday, April 22, 2016. The text is available under the Creative Commons Attribution/Share Alike but additional terms may apply for the media files.