SMARR Realty builds on its legacy as one of the trusted NCR developer with a focus on experience and destination-led retail

India’s organised retail market is growing, but the conversation is moving beyond the availability of retail space to where brands expand and what a development offers its customers. Retailers are becoming more considerate about location, format, and the commercial viability of their stores, while dining and entertainment continue to play a role in shaping the retail mix. According to Cushman and Wakefield’s data, retail leasing in Delhi-NCR rose 78% year-on-year to 1.3 million sq ft (msf) in H1 2026, as retailers expanded across malls and high streets that can attract consumers beyond traditional shopping. Mall leasing in Delhi-NCR doubled year-on-year during H1 2026, while main-street leasing grew 4%.¹

Against this backdrop, SMARR Realty is looking to build on the interplay of location, consumer experience, and destination-led planning as it charts its next phase of growth across Delhi-NCR.

Location remains one of the most important factors shaping a commercial development’s long-term potential. The strength of a retail destination depends not only on its visibility, but also on the residential catchment it serves, its road and metro connectivity, and its proximity to offices and other centres of daily activity. This is particularly relevant to Gurugram, where newer growth corridors are bringing residential communities, workplaces and supporting infrastructure into closer proximity. The city remains the most active retail market in the Delhi NCR region, leading regional absorption with high streets accounting for 71% of total leasing activity.² For SMARR Realty, this creates an opportunity to align the format of each development with the needs of its surrounding market. Projects such as Sapphire Ninety and SMARR Vista Square bring retail, dining and entertainment together, while the hospitality offering at Holiday Inn, Sector 90, reflects the role that hotels can play in a growing commercial district. The underlying approach is to make location work in tandem with the right mix of uses, giving each development a clearer role within its catchment.


Besides, the composition of a retail destination is becoming as important as its location. Shopping may bring visitors in, but dining, entertainment, fitness and hospitality can broaden the reasons to visit and encourage people to spend more time at a development. For retailers, this creates an environment where shopping is part of a wider experience, rather than an isolated activity. The challenge for developers lies in bringing these uses together in a way that reflects the needs and spending patterns of the surrounding catchment. SMARR Realty’s Sapphire Ninety and SMARR Vista Square complement retail with food and beverage, entertainment and other leisure-led offerings. The intent is to accommodate multiple formats under one roof, along with a tenant mix of different offerings that complement one another and serve end users’ varied needs.

Moreover, the next phase of SMARR Realty’s growth will be shaped by how this approach translates into its upcoming developments in New Gurugram. In Sector 89, Vista Corner, Vista Centre and Vista Avenue are planned as complementary commercial developments that will collectively form one of Gurugram’s largest retail destinations, bringing together high-street retail, restaurants, entertainment and office spaces.

Further south, City Centre 92 in Sector 92 is being developed with a mix of retail, dining and entertainment, including a proposed 48,000 sq. ft. D-Mart hypermarket, the biggest in Gurugram. Vista Avenue is also adding a hospitality dimension to the wider development. As these developments take shape, their ability to bring relevant brands, everyday convenience and leisure experiences together will be central to establishing their place in New Gurugram’s commercial landscape.

Thus, for SMARR Realty, the long-term relevance of a commercial development ultimately rests on its ability to remain useful to the market it serves and commercially viable for the businesses operating within it. This calls for looking beyond the initial leasing response to understand how a project performs over time, from occupancy levels and tenant retention to footfall, consumer engagement and the demand for different retail categories. With the company’s growing presence in New Gurugram, the emphasis will shift to how well these factors can be converted into long-term business value.

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