Business · India Bureau
Vijayanagar's ₹13-crore underground bazaar struggles to attract vendors two years on
The air-conditioned underground market in Vijayanagar, modelled after Delhi's Palika Bazaar, remains largely vacant despite its modern infrastructure. The facility, which cost ₹13 crore to build, has 79 shops but has failed to draw merchants since its opening.
LSN India ·
An ambitious underground shopping complex in Vijayanagar continues to grapple with low occupancy rates, more than two years after its inauguration. The climate-controlled bazaar, designed to offer vendors and shoppers a modern retail experience, remains sparsely populated despite its substantial infrastructure investment and carefully planned layout.
The project, conceptualized on the lines of Delhi's successful Palika Bazaar, features 79 retail shops equipped with air-conditioning and other modern amenities. The underground market was constructed at a significant cost of ₹13 crore, making it one of the more expensive retail infrastructure projects in the region.
However, the anticipated surge in merchant interest has not materialized. The lack of vendor participation suggests challenges in attracting retailers to the underground space, despite the facility's temperature-controlled environment and proximity to the city centre. Experts point to factors such as rental expectations, visibility concerns, and merchant preferences for traditional street-level shopping as possible reasons for the slow uptake.
City authorities have yet to announce concrete strategies to boost merchant participation or improve footfall at the facility. The underutilized bazaar raises questions about the financial viability of the project and whether similar infrastructure investments in the region will achieve their intended commercial objectives.