Delhi-NCR retail leasing accelerated in 2024, resurfacing a December 2024 report as premium-mall vacancy dropped and rents rose
Resurfacing data from a December 2024 report, Delhi-NCR’s retail property market strengthened in 2024, with Noida and Gurugram leasing up 12%–15%, premium-mall vacancy falling to 8.3%, and high-street rents climbing. More than 27 million sq ft of retail supply was projected for the region through 2028.
Delhi-NCR retail real estate recorded strong 2024 leasing, declining premium-mall vacancy and higher rents, led by Noida and Gurugram. Infrastructure projects including Jewar Airport and Dwarka Expressway are expected to support more than 27 million sq ft of planned retail supply through 2028.
Why this matters
The signal aligns with recent Delhi-NCR updates on a 27 million sq ft retail pipeline through 2028 and 2024 leasing gains alongside falling mall vacancies and rising high-street rents.
Footfall is steady, with 479 signals recorded over the past 90 days.