Archive · 1 Oct 2026
India Retail Leasing Reaches 2.22 Million Square Feet
Retail companies in India rented 2.22 million square feet of space during the third quarter of 2026.
This was less than in the previous quarter and slightly less than a year earlier.
Stores on busy main streets made up most of the new leases.
Shopping malls received fewer leases because good-quality mall space is hard to find.
Domestic Indian retailers made most of the deals.
Delhi NCR, Hyderabad, and Mumbai together accounted for 61% of leasing.
No new Grade A malls opened for the third quarter in a row.
Almost 12.7 million square feet of new Grade A mall space is expected by 2028.
The report said the festive season could encourage stronger retail demand.
Retail leasing across India’s top eight cities reached 2.22 million square feet in Q3 2026.
Quarterly leasing declined 7.3% from Q2 and 4.4% year over year.
Main streets accounted for 67.9% of leasing, while malls represented 32.1%.
Domestic retailers generated 86.3% of leasing activity, totaling 1.92 million square feet.
Nearly 12.7 million square feet of Grade A mall space is expected by 2028.
- Who
- Retailers in India, led by domestic retailers, and Cushman & Wakefield, which issued the report.
- What
- Retail leasing reached 2.22 million square feet in Q3 2026, down quarter over quarter and year over year.
- When
- The third quarter of 2026; the report was released on Thursday.
- Where
- Across India’s top eight cities, with Delhi NCR, Hyderabad, and Mumbai leading activity.
- Why
- Leasing was supported by retailer demand for visible main-street locations, while limited quality mall space constrained mall activity.
- Q3 leasing
- 2.22 million square feet across the top eight cities
- Quarterly change
- Down 7.3% quarter over quarter
- Annual change
- Down 4.4% year over year
- Year-to-date leasing
- 6.57 million square feet, up 0.4% year over year
- Main-street share
- 67.9%, or 1.51 million square feet
- Domestic retailer share
- 86.3%, or 1.92 million square feet
- Expected mall supply
- Nearly 12.7 million square feet of Grade A space through 2028