Delhi-NCR retail leasing rises 45% in Q1 as fashion and F&B demand strengthens
Delhi-NCR retail leasing reached 0.59 million sq ft in January-March 2026, up from 0.41 million sq ft a year earlier. Malls accounted for 64% of activity, while fashion and F&B led occupier demand amid constrained quality supply across major cities.
Delhi-NCR retail leasing rose 45% year-on-year in Q1 2026 to 0.59 million sq ft, led by fashion and F&B demand. Malls captured 64% of activity. India’s eight-city leasing fell 10% due to limited quality retail-space supply.
Why this matters
The Q1 increase extends recent Delhi-NCR signals of falling mall vacancies and rising rents, while a 27 million sq ft pipeline through 2028 may ease supply constraints.
Store-opening is steady, with 1,768 signals in the past 90 days; no quarter-over-quarter change was provided.