By 2027, Indira Gandhi International Airport’s Aerocity is set to launch India’s largest mall, covering 2.8 million square feet, according to available media reports. This development is part of the $2.5 billion Worldmark Aerocity expansion project, aiming to establish India’s first aerotropolis—a metropolitan area centered around an airport.
The ambitious project, reportedly projected to experience eightfold growth within the next five years, will see Aerocity’s current 1.5 million square feet of leasable space expand to over 10 million square feet by 2029 in two phases. The global business district within Aerocity will undergo a 6.5 million square feet expansion, resulting in a total leasable area of 18 million square feet, accommodating offices, retail outlets, food courts, a large-scale mall, and public areas.
Bharti Realty, entrusted by GMR-backed Delhi International Airport Ltd (DIAL), holds the lease for Aerocity. This lease aligns with DIAL’s lease for airport development and operations, keeping state ownership unchanged. SK Sayal, Bharti Realty’s Managing Director and CEO, outlined the plans for the expansion in phases 2 and 3, which will require a $2.5 billion investment financed through a mix of debt and equity.
Phase 2, starting next year and scheduled for completion by March 2027, will introduce Worldmark 4, 5, 6, and 7, providing 3.5 million square feet of leasable space. This phase includes India’s largest mall, three times the size of existing malls in Vasant Kunj. The development will also feature underground parking facilities for over 8,000 cars.
Currently, Aerocity houses 5,000 hotel rooms across 11 hotels, including brands like JW Marriott, Accor Group, and Roseate. Following Phase 2, the number of rooms will increase to 7,000 across 16 hotels, with esteemed brands like St. Regis and JW Marriott Marquis joining the area.
Upon completion, Aerocity is expected to host 2 million professionals and attract an annual footfall of at least 30 million. This increase in activity could propel IGI Airport to serve over 100 million passengers annually, leading to the replacement of Terminal 2 with the significantly larger Terminal 4.
To support this growth, DIAL is developing India’s first interstate multi-modal transport hub near the Aerocity metro station. This hub will likely integrate an interstate bus terminus, Delhi Metro’s upcoming Phase 4 line, and the Rapid Rail Transit System station, including a station for the automated passenger mover or air train.
Currently, DIAL and the Union aviation ministry are deliberating the optimal number of stops for the proposed air train connecting Terminal 1 and Terminal 3/2 (or potentially Terminal 4 by the end of the decade). While the airport operator favors two air train stations in Aerocity, the ministry prefers fewer stops to facilitate rapid intra-terminal transfers.
