New Delhi, April 8 || Leasing activity in India’s retail sector recorded a robust 55 per cent jump to cross 2.4 million square feet (MSF) in the January-March quarter this year across top eight cities, with both malls and mainstreets contributing to the growth, according to a report released on Tuesday.
Both malls and mainstreets contributed to this growth owing to the commencement of new supply in emerging locations, said the report by Cushman & Wakefield.
The report highlighted that Hyderabad was the frontrunner in terms of leasing volume, contributing 34 per cent (0.8 MSF) of the total leasing activity, with a staggering 106 per cent year-on-year growth.
Mumbai followed closely, accounting for 24 per cent (0.58 MSF) of the total leasing volume and recorded a 259 per cent year-on-year growth, largely owing to the emergence of new high street locations and the addition of new mall supply, the report stated.
Delhi-NCR also saw significant traction, capturing 17 per cent (0.41 MSF) of the total leasing share, supported by strong demand in key submarkets and a 57 per cent year-on-year increase.
Bengaluru and Chennai, meanwhile, exhibited stable growth numbers with 0.19 MSF and 0.17 MSF of leasing respectively.
Saurabh Shatdal, Managing Director at Cushman & Wakefield, said, "India’s retail sector is evolving at a dynamic pace, and the strong leasing activity in Q1 2025 reflects growing market confidence.”