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Almost 3.1 million sq ft of retail space was leased in shopping malls and high streets between January and March in the first three months of 2025 in the top seven cities across the country. Bengaluru and Hyderabad accounted for 60% of India's overall retail leasing activity, according to a report by JLL India.
Leasing in suburban micro-markets with larger store size requirements coming from retailer categories such as daily needs and grocery, food and beverages and fashion and apparel," the JLL report said.
Among retailer categories, fashion and apparel continued to remain the frontrunners in India’s retail landscape, accounting for a significant 31% share of the leasing activity in Q1 2025.
"Retailers in the food and beverage segment comprised 21% share of the leasing pie, followed by entertainment at 16%," said Samantak Das, Chief Economist and Head of Research & REIS, India, JLL. "Over the next three quarters (April-December 2025), 7 million sq f. of new Grade A supply of shopping malls is expected as per the current delivery timelines. With this upcoming new supply, the retail sector’s leasing is expected to remain healthy on the back of demand expansion from retailers due to the availability of quality spaces in prime micro-markets in key Indian cities. By year-end 2025, we expect gross leasing in the sector to touch the 10 million sq ft mark easily," the JLL report added.
