Delhi-NCR retail leasing jumps 45% in Q1 as fashion and F&B demand builds
Delhi-NCR retail leasing rose to 0.59 million sq ft in Q1 2026 from 0.41 million sq ft a year earlier, accounting for 30% of leasing across India’s top eight cities. Malls took 64% of NCR activity, with fashion and food-and-beverage brands driving demand despite limited quality supply.
Delhi-NCR retail leasing rose 45% year-on-year to 0.59 million sq ft in Q1 2026, led by malls and fashion/F&B demand. Limited quality supply constrained leasing across India’s top eight cities, while domestic and international brands continued to seek organised retail space.
Why this matters
The result follows Cushman & Wakefield’s signal that Connaught Place retail rents rose 14% in Q4 FY25 and a March resurfacing of Delhi-NCR’s fashion- and F&B-led leasing increase.
Retail-company theme trend: +309975% QoQ.