13 April,2026 02:44 PM IST | Mumbai | mid-day online correspondent
High streets in Mumbai recorded notable rental appreciation in key micro-markets during H2 2025, as premium mall inventory remained limited. Representational pic
The Mumbai Metropolitan Region (MMR) continued to witness robust retail leasing activity in the second half of 2025, riding on strong demand for high-street locations amid limited premium mall inventory, stated real estate services company ANAROCK Retail's flagship report, RELEAP 2026.
Across India's top seven cities, the total retail absorption stood at approximately 4.3 million square feet (sq ft) in H2 2025, reflecting steady momentum even in a dynamic market environment. In Mumbai, high streets recorded notable rental appreciation in key micro-markets such as Linking Road, Bandra, Lower Parel, and Andheri, amid constrained vacancy levels in premium malls.
Apparel remained the dominant leasing category nationally as well as in MMR, followed by entertainment, hypermarkets/supermarkets, and food & beverages (F&B). This underscores the growing consumer preference for experience-led retail formats that go beyond pure transactions, the report stated.
Mid-sized stores in the 1,000 to 5,000 sq ft range continued to be the most preferred size for transactions, offering retailers a balance between visibility and operational efficiency.
On the supply front, Delhi-National Capital Region (NCR) and Hyderabad together accounted for nearly 70 per cent of the upcoming retail pipeline. While MMR's new supply addition was comparatively moderate in H2 2025, the region is expected to see significant institutional-grade developments in the coming years, particularly in mixed-use and destination-format projects.
In MMR, demand was particularly strong in apparel and entertainment-led leasing, reflecting the aspirational consumer base and established high-footfall culture in the city.
High streets gained further traction as brands in fashion, luxury, and F&B segments used them as an effective alternative to expand presence where mall space remained limited.
Mall rentals in MMR stayed broadly stable, with selective growth seen only in top-performing Grade A assets.
Anuj Kejriwal, CEO - Retail & CEO - EMEA, ANAROCK Group, said, "India's retail real estate story is entering its most exciting chapter yet. RELEAP 2026 captures a sector that has moved decisively beyond square footage and rental metrics - it's now about delivering experiences that consumers cannot find online."
With improving consumption trends, a rising middle class, and retailers increasingly focusing on experience-first formats, the retail real estate sector in MMR and across the top 7 cities is well-positioned for sustained growth in the near to medium term.
The report notes that India's retail market is maturing and becoming more sophisticated, rewarding city-specific strategies. In MMR, the continued strength of high streets alongside planned future supply is expected to support healthy leasing activity going forward.
