It takes three to five years to build a luxury mall and the average cost for overall development (excluding the land cost) in Mumbai and Delhi is in the range of Rs 7,000-9,000 per sq. ft, compared with Rs 4,000-5,000 a sq. ft for a normal mall, say real estate developers. There are six factors that affect a mall's success: comfort, diversity, luxury, mall essence, entertainment and convenience.
Get in touch with different franchise and sign agreement for opening of stores. Get mall license from the local governing authority. Set cameras and other important accessories as per government norms. Appointment of security and housekeeping staff. Yes. Owning a shopping center can be profitable. However the amount of profitability is highly dependent upon the price paid for the property, the efficiency of management, and the characteristics of the center itself.