Main Streets Drive Retail Leasing

Strong demand on main streets has pushed rental growth, particularly in Delhi NCR, Bengaluru, Chennai and Kolkata, where rates surged up to 15% year-over-year. Indian retail sector is evolving rapidly, and main streets continue to record high leasing due to limited mall supply.

The strong demand-supply dynamic has driven rental growth, particularly in Delhi NCR and Pune. Malls, however, faced a quieter quarter due to a lack of supply—a gap that we expect to be addressed in Q4.

Retail leasing trends, led by Fashion, F&B, and Accessories, reveal a clear shift toward more discretionary spending, highlighting the evolving lifestyles of Indian consumers.