India’s organised retail stock totals 186.2 million square feet across 12 markets in CRE Matrix’s September 2026 report. That figure combines shopping malls, office-led amenity retail, and high streets. CRE Matrix also identifies 40.4 million square feet of mall supply through 2030, but the pipeline is concentrated in a few cities. For a commercial-property buyer, the format and city split matter more than the national headline alone. CRE Matrix’s market analysis.
What sits inside the 186.2 million square feet?
CRE Matrix breaks the total into 114.3 million square feet of shopping malls, 51.7 million square feet of office-led amenity retail, and 20.2 million square feet of high streets. These are not interchangeable assets. A mall, retail inside a Grade A office development, and a high-street property can have different occupiers, operating needs, lease structures, and catchments.
The report says mall leasing reached 2.1 million square feet nationally in the first half of 2026, compared with 1.4 million square feet of new mall supply during that period. This is a market-level comparison; it does not tell a buyer whether a particular centre has stable tenants or whether an individual unit will lease.
Where is future mall supply concentrated?
CRE Matrix identifies 40.4 million square feet of upcoming mall supply through 2030. Hyderabad is listed with 12.1 million square feet and Gurgaon with 8.6 million; together, those cities account for 51% of the identified pipeline. Bengaluru is listed with 4.7 million square feet.
The same report puts Bengaluru’s total organised retail stock at 29.2 million square feet. That total includes all three formats, so it is not Bengaluru’s mall stock alone. Nor does an identified pipeline mean every project will open on its stated schedule. The report is a market snapshot and forward-looking supply estimate, not a guarantee of delivery.
BestProp.ai’s read: check the asset, not only the city total
The useful first split is between existing stock and future supply, then between the property’s format and its actual catchment. Before comparing a commercial asset, check the unit’s permitted use, lease terms, current tenant mix, occupancy evidence, maintenance obligations, and the status of any proposed development. CRE Matrix’s numbers can frame questions; they cannot answer them for a specific property.
These retail figures also should not be used as a proxy for home availability, housing prices, or residential returns. Readers following homes rather than commercial space can use BestProp.ai’s separate H1 2026 India housing-market coverage.
Does 186.2 million square feet mean 186.2 million square feet of malls?
No. CRE Matrix’s total includes 114.3 million square feet of malls, 51.7 million square feet of office-led amenity retail, and 20.2 million square feet of high streets.
Is the 40.4 million-square-foot pipeline guaranteed to open by 2030?
The report identifies upcoming supply through 2030. It does not make every listed project a guaranteed opening. Check the status and delivery evidence for a specific development.
Sources: CRE Matrix retail-market analysis, 24 September 2026; India Real Estate Horizons – Retail report page.