Real estate consultant Cushman & Wakefield India data showed that the demand for
As per the data, the leasing activities in shopping malls rose to 6,12,396 square feet during April-June 2024 from 5,33,078 square feet in the year-ago period.
The leasing data includes all types of shopping malls- Grade A and Grade B -- and also all prominent mainstreets. The eight cities are -- Delhi-NCR, Mumbai, Chennai, Kolkata, Bengaluru, Hyderabad, Pune and Ahmedabad.
Commenting on the report, Saurabh Shatdal, Head Retail and Managing Director,
While high street
"However, we anticipate the
The consultant highlighted the continued dominance of main-street retail leasing, owing to limited new mall openings and a strong demand for high-quality retail spaces.
Retailers are increasingly focusing on main streets in prominent locations across India, with emerging clusters forming around residential and commercial hubs, it added.
"This trend is reflected in leasing activity with high street leases accounting for 70 per cent of total leases in Q2 (April-June) 2024, compared to 30 per cent for mall leases," C&W said.
The rental growth across prominent main streets in Q2 of 2024 further underscores their growing appeal.
Kolkata, Bengaluru, Hyderabad and Mumbai have all experienced significant year-on-year rental increases, demonstrating strong demand and potential for high-street retail in the country.