Delhi-NCR retail leasing and rents rose as 27m sq ft pipeline took shape, per Dec 2024 report
Resurfacing a December 2024 report: Delhi-NCR saw stronger retail demand, with premium-mall vacancy easing and rents climbing across key high streets. Noida and Gurugram leasing grew 12-15% in 2024, while more than 27 million sq ft of retail space is planned across major cities through 2028.
Delhi-NCR led India’s retail real-estate growth in 2024, with stronger leasing, lower premium-mall vacancy and rising rents. Noida and Gurugram drove demand, while infrastructure and a 27 million sq ft development pipeline are expected to sustain expansion through 2028.
Why this matters
The signal follows resurfaced reports of a 45% Q1 Delhi-NCR leasing jump driven by fashion and F&B, plus a December 2024 update on rising rents and lower premium-mall vacancy.
Store-opening is steady at 1,552 signals in 90 days; no QoQ change was provided.