According to ANAROCK, over 6.5 msf of organised retail space was leased in 2024 across the top seven cities, significantly surpassing the supply of new stock.
Despite a slowdown in urban demand, vacancy levels in shopping malls across the country have come down significantly, to 7.8 percent in 2024 from 15.5 percent in 2021. Experts attribute this to the retail sector’s growth, robust leasing, and rising affluence.
According to a report from ANAROCK, a real estate consulting firm, over 6.5 million square feet (msf) of organised retail space was leased in 2024 across the top seven cities, surpassing the supply of new stock substantially. This led to a reduction in vacancy levels, causing rentals to increase. Read more
