NEW DELHI : Most mall developers are yet to concede requests for rental waivers and income sharing made by retailers who have not been able to do any business because of the curbs in place to fight covid-19, and any resolution is likely only towards the end of the lockdown.
Retailers have had no income since 25 March and are staring at a bleak future even after the curbs are lifted. As such, they have sought a reduction, waiver or renegotiation of rentals and have also proposed alternative models such as revenue sharing. “Things are getting sorted out as both (groups) understand that they are two sides of the same coin," said Amitabh Taneja, chairman of the Shopping Centres Association of India (SCAI), a forum for mall developers.