Delhi-NCR retail leasing and rents climbed as premium-mall vacancies tightened, resurfacing a December 2024 report
Resurfacing a December 27, 2024 report: Delhi-NCR's retail property market saw stronger leasing and rent growth in 2024, with premium-mall vacancy falling to 8.3% from 9% a year earlier. The region is projected to add more than 27 million sq ft of retail space between 2024 and 2028.
Delhi-NCR retail real estate recorded strong 2024 leasing and rent growth, with premium-mall vacancies declining. Infrastructure around Noida, Gurugram and Jewar Airport is supporting retail projects; the region is projected to account for over 27 million sq ft of planned retail space through 2028.
Why this matters
The 2024 tightening follows recent signals of Delhi-NCR leasing rising 45% in Q1, driven by fashion and F&B demand, while more than 27 million sq ft of future supply is planned.
Footfall is steady, with 548 signals in 90 days; no QoQ comparison is provided.