Delhi-NCR retail leasing jumps 45% in Q1 as fashion and F&B demand accelerates
Delhi-NCR leased 0.59 million sq ft of retail space in January-March 2026, up from 0.41 million sq ft a year earlier. Malls accounted for 64% of activity, with fashion and F&B occupiers leading demand despite constrained quality supply across major Indian cities.
What happened
Cushman & Wakefield · Delhi-NCR retail leasing increased 45% in Q1 2026 to 0.59 million sq ft, led by fashion and F&B demand. Mall leasing dominated, while
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 accounted for 36%
- Delhi-NCR represented 30% of retail 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
- Top-eight-city retail leasing totaled 9.21 million sq ft in calendar 2025
Why this matters
The constrained supply of quality retail space makes partnerships, mall-platform deals and targeted acquisitions increasingly important for securing growth locations in Delhi-NCR.