Leasing of retail space in malls and high streets rose 54 per cent last year across seven major cities on better supply and strong demand from retailers, a JLL India report said.
Real estate consultant JLL India noted that brick-and-mortar retail in the top seven cities was at a three-year high, with gross leasing volume rising to 12.5 million square feet in 2025 from 8.1 million square feet in the previous year.
The report showed that the gross leasing includes real estate space leased in malls, high streets and prime retail developments. Of the total leasing in 2025, shopping malls accounted for 45 per cent, while high streets accounted for 48 per cent, the data showed.
Leading cities
According to the report, leasing of retail spaces in Delhi-NCR was the highest among the major cities, with 3.02 million square feet in 2025. The leasing activity was second-highest in Bengaluru at 2.97 million square feet, followed by Hyderabad at 2.91 million square feet. Mumbai ranked last among the leading Indian metros with 2.1 million square feet.
The report shows that the leasing stood at 0.65 million square feet in Kolkata, 0.59 million square feet in Chennai and 0.24 million square feet in Pune.
“Demand from domestic retailers continued to accelerate as they accounted for 82 per cent of 2025’s gross leasing activities,” said Rahul Arora, Head, Office Leasing & Retail Services, Senior Managing Director, India, JLL. As many as 29 new foreign brands entered India during 2025, the highest in the past five years, he added.
New launches
The JLL India report noted that the new supply of retail space stood at 6.3 million square feet last year, leading to increased leasing activity. During 2025, Delhi NCR, Hyderabad, and Mumbai witnessed the launch of 15 shopping malls, collectively contributing to the nation’s overall mall inventory.
The report said that as of the end of 2025, the total retail spaces in shopping malls across the top seven cities stood at nearly 92 million square feet. The report noted that the availability of premium institutional-grade mall space encouraged retailers to accelerate store launches in prime locations.