Delhi-NCR retail leasing and rents rise as 27 million sq ft pipeline builds, resurfacing a 2024 report
Resurfacing data from early 2024: Delhi-NCR's retail market saw stronger 2024 leasing, lower premium-mall vacancy and rising high-street rents. Noida and Gurugram leasing grew 12-15%, while more than 27 million sq ft of new retail space is projected between 2024 and 2028.
Delhi-NCR retail property saw record 2024 leasing, declining mall vacancies and higher rents, driven by consumer spending and infrastructure. Noida and Gurugram leasing rose 12-15%, while over 27 million sq ft of new retail space is projected through 2028.
Why this matters
The signal reinforces recent resurfaced reports on Delhi-NCR leasing acceleration, rising rents and a 27 million sq ft pipeline, alongside a December 2024 report that put premium-mall vacancy at 8.3%.
Store-opening is steady, with 1,378 signals recorded over the past 90 days.