Bengaluru Secures Second Spot in Mall Leasing, Mumbai Trails: JLL India Report
Leasing of retail space in malls and high streets witnessed a 54 per cent increase last year across seven major cities, driven by improved supply and robust demand from retailers, according to a JLL India report.
Real estate consultant JLL India noted that brick-and-mortar retail in the top seven cities reached a three-year high, with gross leasing volume rising to 12.5 million square feet in 2025 from 8.1 million square feet in the previous year.
The report indicates that the gross leasing includes real estate space leased in malls, high streets, and prime retail developments. Of the total leasing in 2025, shopping malls accounted for 45 per cent, while high streets accounted for 48 per cent, the data showed.
Leading cities in terms of retail space leasing were Delhi-NCR, Bengaluru, and Hyderabad. Delhi-NCR led the pack with 3.02 million square feet of leasing in 2025. Bengaluru followed closely with 2.97 million square feet, and Hyderabad secured the third spot with 2.91 million square feet. Mumbai, surprisingly, ranked last among the leading Indian metros, with only 2.1 million square feet leased. The leasing activity in Kolkata stood at 0.65 million square feet, 0.59 million square feet in Chennai, and 0.24 million square feet in Pune.
Rahul Arora, Head of Office Leasing & Retail Services and Senior Managing Director at JLL India, highlighted that demand from domestic retailers continued to accelerate, accounting for 82 per cent of the gross leasing activities in 2025. Additionally, 29 new foreign brands entered the Indian market during 2025, marking the highest number in the past five years.
The JLL India report also noted that the new supply of retail space reached 6.3 million square feet last year, contributing to increased leasing activity. Delhi NCR, Hyderabad, and Mumbai saw the launch of 15 new shopping malls, adding to the nation’s overall mall inventory.
As of the end of 2025, the total retail spaces in shopping malls across the top seven cities stood at nearly 92 million square feet. The availability of premium institutional-grade mall space encouraged retailers to accelerate store launches in prime locations, further boosting the retail sector’s growth.
