The malls in the commercial capital of India would reopen from August 5 after remaining close for 140 days.
The Brihanmumbai Municipal Corporation (BMC) on Monday issued a circular announcing that Mumbai shops will remain open on all seven days of the effective August 5. The BMC has also allowed all the liquor shops to open as long it strictly adheres to the guidelines.
“All shops shall remain open on all days on all sides of the road irrespective of even and odds,” the circular said.
The circular’s guidelines will remain in force till August 31.
Maharashtra government has issued separate notification for Unlock 3, extending the lockdown with further relaxations.
“In Municipal Corporations of Mumbai Metropolitan Area including Greater Mumbai, Pune, Solapur, Aurangabad, Malegaon, Nashik, Dhule, Jalgaon, Akola, Amravati and Nagpur: Malls and market complexes to be operational from 9 am to 7 pm from August 5, but without theatres, food courts and restaurants,” the state government said last week.
The malls in Mumbai would be opened after 140 days of closure. Extended mall closures and rent waivers offered by mall operators are expected to hit it net operating income and debt service coverage indicators in the current financial year. ICRA Research said among the key financial indicators, their operating income is likely to decline 45-60% in 2020-21.
