The report presents a comprehensive insight into the leasing dynamics of the top seven cities
Bengaluru: H1 2023 India Retail Overview report by real estate services firm Anarock Retail presents a comprehensive insight into the leasing dynamics of the top seven cities (Tier I) in India including Mumbai, Delhi-NCR, Bengaluru, Kolkata, Pune, Hyderabad and Chennai, during the first half (H1) of 2023.
The report provides a detailed analysis on the stock, supply, and vacancy aspects, shedding light on the distribution of leasing areas and developmental trends across these cities.
Additionally, it furnishes data on pan-India marquee transactions during the first half of 2023, along with insights into upcoming malls in the country. It also offers insights into the average carpet rentals in key malls and highstreets during the time frame.
Key findings of the report are as follows:
- An average of 2.4 million sq.ft. of fresh supply was witnessed over the last 4 years, with almost 75% of the supply coming from just two regions, namely NCR and Bengaluru.
- Vacancy levels have declined sharply post the pandemic, due to the robust leasing on back of aggressive expansion plans of retailers, coupled with limited availability of quality retail spaces.
- Gross leasing in calendar year (CY) 2022 surpassed CY19 levels, the pre-pandemic period, and leasing in H1CY23 has reached 56% of CY22, demonstrating a significant comeback in retail real estate.
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