Over the past decade, malls have undergone a striking transformation—from traditional shopping centres built around anchor stores to ‘experience-first’ destinations designed to captivate and engage.
New Delhi: In the Indian retail sector, retail spaces are emerging as the anchors, blending retail, entertainment, dining, and social engagement. They have morphed into vibrant, multi-sensory destinations where consumers flock not just to shop, but to dine at gourmet food courts, attend live performances, unwind at rooftop lounges, or even work from co-working spaces.
According to Cushman and Wakefield, leasing of retail spaces in shopping malls and major high streets rose 55% in the latest March quarter across eight major cities to over 24 lakh square feet from 15.56 lakh square feet, as retailers look to expand their business. The report said that high streets continued their domination of the leasing landscape, accounting for two-thirds of the total leasing volume at 16.9 lakh square feet, with premium high street locations in Delhi-NCR, Mumbai, Bengaluru and Hyderabad witnessing heightened interest from retailers. Mall leasing, meanwhile, stood at 7.2 lakh square feet in the March quarter.
Across Delhi-NCR, especially in Gurugram and Noida, a new wave of Grade A retail spaces is reshaping the urban fabric, prioritising experience over transactions, and transforming malls into curated hubs of entertainment, wellness, fashion, and community engagement.
Pankaj Jain, Founder and CMD, SPJ Group says, “Malls and high streets are constantly adopting new strategies to curate immersive experiences for visitors. Delhi-NCR, particularly Gurugram, is experiencing a transformation of retail projects into lifestyle destinations that provide all essential amenities and leisure experiences in one location. The transformation curve of retail spaces is impressive, where Gurugram is leading the demand for experiential retail destinations. Here, micro-markets are booming with heightened demand for such a curated mix of brands and comprehensive retail spaces that rightly blend food, fashion, leisure, and entertainment. As developers, we have embraced this shift, aligning our vision with the new retail paradigm in crafting the finest offerings in the retail space landscape. Also, it is crucial to understand that such malls are placed in high population density and diverse demographics. Therefore, old Gurgaon is one of the key areas amongst NCR markets. We are focused on creating a project which will reshape lifestyle and emerge as one of the premium hubs of Sector 14, Gurugram.”
Over the past decade, malls have undergone a striking transformation—from traditional shopping centres built around anchor stores to “experience-first” destinations designed to captivate and engage.
Arjun Gehlot, Director, Ambience Malls says, “As cities develop and lifestyles evolve, malls are catalysing the Indian retail growth. Consumers in cities like Gurugram seek richer, more holistic experiences, with malls becoming cultural and social landmarks. The city’s purchasing power now rivals that of Delhi, further strengthened by a growing urban population, enhanced metro connectivity, and infrastructure projects. These developments attract top national and international brands in malls that cater to a diverse consumer base. Thus, we’ve embraced this transformation by creating an experiential ecosystem that blends retail with art, food, fitness, and entertainment. Our tenants craft immersive journeys that draw people in and keep them coming back.”
Moreover, developers today are blurring the lines between retail and leisure, turning malls into dynamic urban playgrounds that cater to evolving consumer lifestyles. Smart features like app-based loyalty programs, AR navigation, and automated parking enhance convenience while deepening engagement. Flexible layouts accommodate pop-ups, performances, and community gatherings, transforming malls into living spaces that adapt and surprise.
Ajendra Singh, Vice President-Sales and Marketing, Spectrum@Metro, says, “As retail evolves from transactional spaces to experience-driven destinations, Noida is witnessing a growing demand for malls that integrate shopping, entertainment, and leisure into one cohesive environment. Consumers seek places that engage the whole family, foster connection, and create memories. At Spectrum@Metro, we’ve embraced this shift by curating interactive play zones, live performances, food festivals, and tech-enabled services that go beyond the traditional shopping experience. This experiential approach not only boosts footfall but builds loyalty, transforming the mall into a vibrant lifestyle hub that’s woven into the fabric of everyday urban life.”
Therefore, as consumers crave connection and experiences over mere transactions, retail spaces are evolving into lifestyle arenas that seamlessly blend commerce, culture, and community.
