Gurugram: SMARR Realty is planning a series of commercial developments across Sectors 89 and 92 in New Gurugram, with two distinct approaches to attracting customers.
While its Sector 89 projects will combine shopping, entertainment, offices and hospitality, the proposed City Centre 92 will place everyday retail at the heart of its offering.
The developments come at a time when organised retail continues to attract leasing interest. Cushman & Wakefield’s Q3 2026 Retail MarketBeat report puts gross retail leasing across India’s top eight cities at 2.22 million sq. ft. during July-September 2026. Delhi-NCR accounted for 0.55 million sq. ft., with Gurugram among the region’s active markets.
Three Projects, One Retail Cluster in Sector 89
Spread across approximately 12.5 acres, SMARR Realty’s proposed Sector 89 cluster comprises Vista Corner, Vista Centre and Vista Avenue.
Together, the three developments account for a planned built-up area of around 18.5 lakh sq. ft., bringing different commercial uses into a shared destination.
Vista Corner, covering approximately 6 lakh sq. ft., is planned to house a hypermarket, restaurants, entertainment facilities and a three-screen multiplex. The adjoining Vista Centre, with around 5.5 lakh sq. ft., will combine shopping and leisure with premium office spaces.
Vista Avenue, the largest of the three at approximately 7 lakh sq. ft., will feature multi-level anchor stores, dining and entertainment spaces, alongside a proposed 252-key five-star hotel.
The combination could give the cluster access to different customer groups, from local shoppers and office professionals to visitors using its hospitality and entertainment facilities. Whether these uses translate into consistent commercial activity will depend on tenant demand and actual footfall.
City Centre 92 Puts Everyday Shopping in Focus
In Sector 92, SMARR Realty is pursuing a different retail format through City Centre 92, a development with a proposed built-up area of approximately 5 lakh sq. ft.
Its key attraction is a proposed 48,000 sq. ft. D-Mart, intended to serve as the project’s retail anchor. Unlike destinations that depend primarily on occasional shopping or leisure visits, a large-format grocery store could encourage more frequent trips from nearby residential neighbourhoods.
The project is also planned to include multi-level anchor stores, restaurants, an entertainment zone, a three-screen multiplex and basement parking.
Notably, both the Sector 89 cluster and City Centre 92 include plans for three-screen multiplexes, although their broader retail offerings differ.
Sector 89 places greater emphasis on a mix of commercial, hospitality and leisure uses, while Sector 92 combines daily-needs shopping with entertainment.
Residential Catchment Will Be Critical
The location of the developments within New Gurugram’s residential neighbourhoods forms an important part of their commercial proposition.
For Sector 89, connectivity to the Dwarka Expressway and NH-48 is another consideration. However, road access and surrounding residential development alone cannot guarantee strong retail performance.
The more important question is how many residents become regular customers and whether retailers see sufficient demand to establish and sustain operations.
The wider Delhi-NCR leasing figures offer a useful indication of market activity, but they do not establish the likely occupancy, rental income or investment returns of individual developments.
What Will Determine Investment Returns?
For prospective investors, the planned scale of SMARR Realty’s developments is only one part of the assessment.
Rental yield depends on the annual rental income generated relative to the property’s acquisition cost. Capital appreciation, meanwhile, remains subject to market conditions.
Tenant selection, leasing progress, project delivery and sustained occupancy will therefore be important factors in assessing the commercial prospects of both locations.
SMARR Realty’s proposed developments illustrate two approaches to organised retail in New Gurugram: one built around a larger mixed-use destination and the other combining everyday shopping with leisure.
The plans establish the intended size and character of these projects. Their investment potential, however, will become clearer as leasing progresses, developments are delivered and customer demand takes shape.
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