Delhi-NCR retail leasing and rents rose as 27 million sq ft pipeline took shape, resurfacing a 2024 report
Resurfacing 2024 data: Delhi-NCR’s premium-mall vacancy fell to 8.3% in 2024 from 9% a year earlier, while Noida and Gurugram retail leasing grew 12%–15%. The region is projected to add more than 27 million sq ft of retail space between 2024 and 2028.
Delhi-NCR retail real estate saw strong 2024 leasing, lower premium-mall vacancies and rising rents. Noida and Gurugram benefited from infrastructure projects, while the region is projected to contribute more than 27 million sq ft of planned retail space through 2028.
Why this matters
The resurfaced 2024 findings reinforce recent signals of Delhi-NCR retail leasing jumping 45% in Q1 and rising rents as premium-mall vacancy declines, pointing to sustained demand across the market.
The retail-company theme is accelerating, up +939300% QoQ.