Retail Space Leasing Surges 69% in Top Cities

New Delhi, Jul 30 (PTI) Leasing of retail spaces in shopping malls and high streets rose 69 per cent to 5.7 million sq ft in the January-June period across seven major cities on better demand from both domestic and foreign retailers, according to JLL India.

New supply of retail spaces more than doubles to 2.3 million sq ft during the first six months of this calendar year from 0.9 million sq ft in the corresponding period of 2024 across seven cities - Delhi-NCR, Bengaluru, Chennai, Hyderabad, Kolkata, Mumbai, and Pune, real estate consultant JLL India said in a statement on Wednesday.

"Interestingly, the first half of 2025 has already achieved 70 per cent of last year's annual leasing volume, which stood at 8.1 million sq ft," it added.


JLL India projected that the leasing of retail spaces might cross 10 million sq ft in the 2025 calendar year, with 5.9 million sq ft of new supply expected to be operational in the second half of this year.

"India's strategic position for retail expansion is evidenced by international brand entry more than doubling year-on-year in H1 2025, driven by the perfect confluence of young demographics, rising disposable incomes, and premium consumption preferences that are particularly attractive in the current global economic landscape," said Rahul Arora, Head - Office Leasing & Retail Services, Senior Managing Director (Karnataka, Kerala), India at JLL.

Abhishek Trehan, Executive Director of realty firm Trehan Iris, said India's retail leasing sector is experiencing robust growth, fuelled by strong consumer sentiment, the expansion of organised retail, and rising demand for experiential shopping destinations.

"Both domestic and international brands are actively seeking premium, well-located spaces in malls and on high streets — underscoring their confidence in India's consumption story," Trehan said.