Delhi-NCR retail leasing accelerated as mall vacancies fell and high-street rents rose, resurfacing a December 2024 report
Resurfacing data from late December 2024: Delhi-NCR's retail market strengthened in 2024, with premium-mall vacancy falling to 8.3% and leasing in Noida and Gurugram up 12–15%. The region has more than 27 million sq. ft. of retail supply planned for 2024–28, or 66% of development across major Indian cities.
Delhi-NCR retail real estate saw record 2024 leasing, declining mall vacancies and higher rents, aided by infrastructure projects including Jewar Airport and Dwarka Expressway. The region is projected to lead India’s retail-development pipeline through 2028.
Why this matters
The signal extends recent coverage of 3.1 mn sq ft H1 2024 leasing and Q1's 45% leasing rise driven by fashion and F&B, while aligning with the related 27 million sq ft pipeline and rent-growth report.
Footfall is steady at 459 signals over 90 days; no QoQ figure is provided.