India's Malls Get Experiential Makeover

India's shopping mall stock is poised for significant growth, with developers planning to add 51.1 million square feet by 2031. Large-format malls will lead this expansion, making up 56% of the new supply. These modern malls are shifting focus beyond traditional retail.

These upcoming developments will allocate approximately 30-35% of their space to entertainment, food and beverage, and services. This aims to create immersive lifestyle destinations that cater to evolving generational preferences and blended consumption patterns. Technology and design are key differentiators in these experiential spaces.

In addition to large formats, next-generation neighbourhood malls will contribute 15% to the upcoming supply. This initiative focuses on enhancing shopper experiences within residential areas. Major developers are increasing their share in operational retail stock in tier-1 markets.

More than half of the new retail supply is anticipated in Delhi NCR and Hyderabad. Delhi NCR currently holds the largest operational mall stock and is projected to expand substantially by 2031.