Delhi-NCR has witnessed a significant surge in retail space leasing, with a 78% increase to 1.3 million sq ft during the first half of 2026, driven primarily by expansion from fashion retailers, food & beverage firms, and departmental stores, according to a report by Cushman & Wakefield.

Retail Leasing Trends in Delhi-NCR

The real estate consultant's data indicated that leasing activities were particularly buoyant in shopping malls during the first half of the year. The fashion segment led the leasing with a 28% share, followed by food and beverage (16%) and department stores (12%).

Retail leasing in H1-26 totalled 1.3 million sq ft, an increase of 78% year-on-year.
Main Street leasing during H1-26 registered 4% y-o-y growth.
Mall leasing grew 2 times in the same period.

Market Insights and Analysis

Experts in the field note that the growth in retail leasing is a result of strong consumer demand and the evolution of luxury consumption in India. The market is increasingly favouring integrated developments that combine retail, hospitality, offices, and residential uses within a single destination.

Infrastructure and Consumer Aspirations

The expansion of urban infrastructure and evolving consumer aspirations are driving the growth of organized retail markets in India, with Delhi-NCR emerging as one of the most dynamic markets. Gurugram continues to be a primary growth engine, backed by over 100 million sq. ft. of Grade A office space and a rapidly expanding residential base.

Vacancy in Grade A malls remained tight at 6%.
Grade B+ malls reported a vacancy rate of 13%.

Outlook for Homebuyers and Investors

For Indian homebuyers and investors, the surge in retail space leasing in Delhi-NCR signals a thriving market with potential for growth, particularly in integrated developments that offer a mix of retail, residential, and commercial spaces. This trend is expected to continue, driven by strong economic fundamentals and evolving consumer preferences.

via moneycontrol_re

Delhi-NCR

Delhi-NCR Retail Space Leasing Up 78% in H1 2026