India to expand shopping mall space by 51.1 million sq. ft. by 2031

India is projected to add approximately 51.1 million square feet of shopping mall space over the next five years, according to a report by JLL titled “Indian Retail 2031: Towards a Future-Ready Ecosystem.” This expansion is expected to increase the total mall stock to 143.2 million square feet by 2031.

The growth is being driven by rising consumer demand, the expansion of domestic brands, and an influx of international brands. Large-format, experiential destinations are expected to comprise 56% of the new supply, totaling roughly 28.7 million square feet. These developments will focus on lifestyle, leisure, and retail, with 30% to 35% of space dedicated to entertainment, food and beverage, and services.

As of June 2026, retail stock across India's top seven cities stood at 92.1 million square feet with an 11.2% vacancy rate. The sector is shifting toward next-generation neighborhood malls and technology-driven lifestyle destinations to meet changing generational consumption patterns.