Delhi-NCR retail leasing jumps 45% in Q1 as fashion and F&B demand rises
Delhi-NCR retail leasing reached 0.59 million sq ft in Q1 2026, with malls accounting for 64% of activity. Fashion and F&B occupiers led demand, even as limited supply pulled total leasing across India’s top eight cities down 10% year-on-year.
What happened
Delhi-NCR retail real estate market · Delhi-NCR retail leasing climbed 45% in Q1 2026 to 0.59 million sq ft, led by fashion and F&B demand. Mall leasing
Key facts
- Delhi-NCR retail leasing rose 45% year-on-year to 0.59 million sq ft in January-March 2026, from 0.41 million sq ft
- Shopping malls accounted for 64% of Delhi-NCR leasing; high streets contributed 36%
- Delhi-NCR held a 30% share of leasing across India’s top eight cities
- Top-eight-city leasing fell 10% to 1.95 million sq ft from 2.17 million sq ft
- 2025 leasing across the eight cities totalled 9.21 million sq ft
Why this matters
Rising fashion and F&B demand in Delhi-NCR creates a timely case for mall-owner partnerships, strategic site portfolios, and acquisitions that add access to scarce premium retail space.