Retail space leasing in malls, high street up 45% across top eight cities in July-September: C&W
- IBEF
- October 9, 2025
Leasing of retail spaces in shopping malls and prominent high streets rose 45% in July-September 2025 across India’s top eight cities, driven by strong demand from retailers and fresh supply, according to real estate consultant Cushman & Wakefield (C&W). The gross leasing volume (GLV) increased to 2.41 million square feet during the quarter, up from 1.66 million square feet in the year-ago period. Mumbai recorded the highest growth, more than doubling to 0.59 million square feet from 0.22 million square feet, while Pune saw an 85% rise to 0.33 million square feet. Delhi-National Capital Region (NCR) leasing rose 87% to 0.51 million square feet from 0.27 million square feet, and Hyderabad recorded a 3.5% increase to 0.51 million square feet. Chennai and Kolkata posted moderate growth of 8% and 12%, respectively.
Industry leaders attributed the growth to a combination of factors, including completion of new mall projects, rising consumer confidence, and the increasing preference for experience-led retail formats. Vice Chairman and Managing Director (Rental Business) at Delhi Land and Finance (DLF), Mr. Sriram Khattar, noted that shoppers now seek better experiences rather than just products. President (Leasing) at Nexus Select Malls, Mr. Nirzar Jain, said the leasing momentum reflects renewed confidence of global and domestic brands, while the Managing Director of Pacific Group, Mr. Abhishek Bansal, highlighted sustained demand for quality spaces. Managing Director of Aarone Group, Mr. Nimish Arora, added that post-COVID retail projects reaching completion and the expansion of direct-to-consumer brands offline are supporting growth. Overall, the sector’s robust fundamentals, evolving consumer preferences, and fresh supply of premium spaces are driving strong leasing activity across major Indian cities.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.
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