According to Cushman & Wakefield data, retail leasing activity in Delhi-National Capital Region reached nearly 0.6 million square feet in the first quarter of 2026, reflecting a robust year-on-year growth of 45 percent despite a sequential moderation. Gurugram accounted for 54 percent of total leasing activity, followed by Delhi and Noida, underscoring the continued strength of organised retail across key micro-markets in the region.
Industry stakeholders highlight that retail consumption patterns are rapidly evolving. The most recent nationwide absorption of 8.9 million square feet of retail space indicates a significant structural shift, with more than 20 percent of leasing now driven by food and beverage along with entertainment segments. Fashion remained the largest occupier category, accounting for 32 percent of total leasing, while entertainment and department stores recorded steady absorption. Food and beverage leasing on high streets also registered strong growth compared to the previous year. Entertainment zones, family gaming centres, wellness concepts, and boutique fitness brands are expanding their footprint across retail developments.
Jatin Goel, Executive Director of Omaxe Group, stated that retail in the region has evolved beyond shopping into a time-spending ecosystem. He noted that tenant curation has become central to development strategy as consumers demand experience-driven environments. He highlighted examples such as World Street in Faridabad, driven by residential demand for organised high-street retail; Omaxe Chowk in Chandni Chowk, which combines heritage markets with modern retail and large food courts; and The Omaxe State in Dwarka, which integrates sports, leisure, and retail into a unified ecosystem.
Arjun Gehlot, Director of Ambience Group, observed that malls are increasingly required to function as experience hubs rather than mere retail spaces. He emphasised that tenant planning has become data-driven, with dining, entertainment, wellness, and lifestyle categories playing a critical role in enhancing dwell time and repeat visits. According to him, the success of a mall is now determined by the effectiveness of its overall ecosystem rather than its size or brand count.
A parallel shift is visible in high-street and community-centric retail formats, where consumers are favouring accessible, lifestyle-integrated destinations that align with daily routines while still offering aspirational experiences.
Pankaj Jain, Founder and Chairman and Managing Director of SPJ Group, stated that neighbourhood retail in Gurugram is witnessing strong momentum, particularly in Old Gurgaon, where rising residential density and improving infrastructure are driving sustained demand. He noted that curated retail formats focused on balanced tenant mixes are generating consistent weekly engagement and, in many cases, stronger footfall than larger standalone developments.
The growth of mixed-use developments is further reshaping the sector, with retail increasingly integrated with residential, entertainment, and social infrastructure to create self-sustained urban ecosystems.
Uddhav Poddar, Chairman and Managing Director of Bhumika Group, stated that the retail sector in the region is moving beyond the “bigger is better” approach. He emphasised that consumers now prefer curated destinations where shopping, food, entertainment, and lifestyle experiences are balanced. He added that brands are becoming more selective, choosing developments aligned with their customer profiles, and that well-curated projects in Gurugram and Faridabad are witnessing higher engagement, stronger occupancy, and sustainable long-term value creation.
Harpreet Singh Hora, Director of Vegas Mall, noted that consumers are increasingly driven by relevance, experience, and emotional connection rather than scale. He stated that malls with well-curated tenant mixes are emerging as community ecosystems rather than conventional shopping centres, with a strong combination of entertainment, food, fashion, lifestyle, family engagement, and convenience significantly improving dwell time and loyalty.
As retail consumption continues to evolve toward experience-led engagement, the sector’s next phase of growth is expected to be defined by curation, tenant strategy, and ecosystem design rather than physical expansion alone.
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