Effects of Real Estate Regulations on Retail Movement Pattern and Distribution of Stores in Hubballi
Author : Ar. Srikanth K.S. and Dileepkumar V. Madbhavi
Abstract :
The growth of a city’s economy depends on the demography and market growth. When it comes to retail sector, major players are unorganised sector and organised sector. Hubli-Dharwad has a population of more than 12 lakh. The twin-cities are hub of commercial activities in northern Karnataka and attracts people from other regions for expanding its business activities. Alike any small Indian town, unorganised retailers command a majority stake in this volume. Family-run stores in the nooks and corners of residential areas rule the roost. Organised retail market is growing since last decade and still looking for opportunities to enter Hubli market. Those who already are in market are trying various techniques to beat the local vendors.
In the last five years real estate price affects adversely to the organized retailers. Selection of location of the mall is the critical and key factor in the present situation which carries very huge investments, adverse in terms in high rentals. Availability of real estate at the right prices and at the right location remains to be the key concern for profitable growth of the retail sector. This article aims at discussing such issues in Hubli-Dharwad’s retail market and how they are overcome by various retailers.
Keywords :
Hubli-Dharwad, CBD, RERA, HDBRTS, Real estate, infrastructure in Hubli, organised and unorganised sector, retail market, urbanisation.
