India, Dec. 9 -- Nearly one-fifth of India's shopping centres have slipped into 'ghost mall' status, but reviving even a small portion of this dormant stock could unlock Rs.357 crore in annual rentals, according to Knight Frank India's retail study, Think India, Think Retail 2025 - Value Capture: Unlocking Potential.

The report said that across 365 shopping centres surveyed, translating 134 million sq ft of overall stock, 74 have been classified as ghost assets with a vacancy level of 40% or above, representing 15.5 million square feet (mn sq ft) of dormant retail potential.

"Within this pool, 15 centres with a combined area of 4.8 mn sq ft have been identified as high-potential assets that could deliver as much as Rs.357 crore in annua...