Delhi-NCR retail leasing and rents rose as 27 million sq ft pipeline took shape, resurfacing a 2024 report
Delhi-NCR’s retail market gained momentum in 2024, with lower premium-mall vacancy, rising high-street rents and 12–15% leasing growth in Noida and Gurugram, according to a resurfacing early-2024 report. The region is expected to account for 66% of major-city retail development planned through 2028.
Delhi-NCR retail real estate saw record 2024 leasing, lower mall vacancies and higher high-street rents. Noida and Gurugram gained from new infrastructure, while the region is projected to lead India’s retail-space pipeline through 2028 with over 27 million sq ft planned.
Why this matters
The signal extends prior reports of 3.1 mn sq ft of H1 2024 leasing and 45% Q1 leasing growth, as fashion and F&B demand tightened Delhi-NCR mall vacancies and rents.
Footfall is steady, with 453 signals in the past 90 days; no QoQ change figure is provided.