Delhi-NCR retail demand lifted leasing as premium mall vacancy dropped to 8.3%, resurfacing 2024 data
Delhi-NCR's retail property market strengthened in 2024, with Noida and Gurugram leasing up 12–15% and premium mall vacancy declining from 9% in 2023, according to a report resurfacing from early 2024. The region is projected to add more than 27 million sq. ft. of retail space between 2024 and 2028.
Delhi-NCR retail real estate posted record 2024 leasing, lower mall vacancies and higher rents. Noida and Gurugram led demand, supported by infrastructure and Jewar Airport, while the region is projected to account for over 27 million sq. ft. of retail development through 2028.
Why this matters
The resurfaced 2024 data reinforces recent Delhi-NCR signals showing rising retail leasing and rents, a 27 million sq. ft. supply pipeline, and a 45% Q1 leasing jump driven by fashion and F&B demand.
Footfall is steady, with 418 signals in the past 90 days; no QoQ change was provided.