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Delhi-NCR Retail Leases Soar 45% Amidst Strong Demand
11 Apr
Summary
- Delhi-NCR retail leasing increased by 45% to nearly 6 lakh sq ft.
- Shopping malls dominated leasing, accounting for 64% of the volume.
- Delhi-NCR led India's top eight cities with a 30% share in leasing.
The retail real estate sector in Delhi-NCR witnessed a remarkable 45 percent increase in leasing activity during January-March, with nearly 6 lakh square feet secured. This surge in demand saw shopping malls account for 64 percent of the leased space, while high streets comprised the remaining 36 percent. Nationally, Delhi-NCR led the top eight Indian cities, contributing 30 percent to overall retail leasing, underscoring sustained demand.
Nationwide, the leasing of retail spaces across the top eight cities saw a 10 percent decline in the first quarter, primarily due to supply constraints. However, the underlying demand remains strong, driven by fashion and food and beverage segments. Experts note a shift towards organized, professionally managed retail formats, fueled by domestic expansion and international brand participation.
The outlook for retail leasing remains positive, with new supply expected to further strengthen market activity. This robust performance in Delhi-NCR highlights the resilience of India's consumption story, with a clear preference for quality retail spaces in established malls and high streets.
