Retail leasing surges 69% YoY in H1 2025 to 5.7 mn sq ft; Bengaluru, Delhi NCR lead Q2
JLL data shows Indian retail real estate leasing climbed 69% year-on-year in H1 2025 to 5.7 million sq ft, signaling robust expansion appetite. Bengaluru and Delhi NCR drove Q2 activity, reflecting strong demand for quality retail space across top metros.
What happened
Indian retail real estate leasing rose 69% year-on-year in H1 2025 to 5.7 million sq ft, with Bengaluru and Delhi NCR leading Q2 activity, per a JLL report.
Key facts
- 69% YoY
- 5.7 mn sq ft
- H1 2025
Why this matters
Robust leasing momentum concentrated in Bengaluru and Delhi NCR points to attractive entry or partnership opportunities in high-demand retail corridors, warranting accelerated market-entry and site-acquisition evaluation.
What to watch
- H2 2025 leasing volume vs the elevated H1 base (deceleration signal)
- Prime mall vacancy and rental escalation data in Bengaluru/Delhi NCR
- New Grade-A mall completion timelines slipping or accelerating
- Quarterly same-store retail sales and consumption indicators
- Tier-2 city leasing share rising as metro space tightens
- Fashion, F&B and electronics brands lock pre-commitments in upcoming Grade-A malls to secure prime locations before rents climb
- Developers accelerate mall pipeline announcements and reposition older retail assets to capture demand
- International brands expand entry/store counts in Bengaluru and Delhi NCR as anchor demand
- Landlords push higher revenue-share and minimum guarantee terms in lease renewals