Delhi-NCR retail leasing climbed in 2024 as mall vacancies fell and high-street rents rose
Resurfacing a 2024 report: Delhi-NCR's retail property market strengthened that year, with higher leasing in Noida and Gurugram, premium-mall vacancy falling to 8.3%, and rising high-street rents. The region was also set to account for 66% of major-city retail supply planned through 2028.
Delhi-NCR retail real estate saw stronger 2024 leasing, lower mall vacancies and higher high-street rents. Noida and Gurugram demand was supported by infrastructure and Jewar Airport, while the region is projected to lead India’s retail-development pipeline through 2028.
Why this matters
The 2024 pattern precedes a December 2024 report of rising leasing, rents and a 27 mn sq ft pipeline, and Q1 2026 data showing leasing up 45% as fashion and F&B pursued quality space.
Retail-company signals are accelerating, up 386,733% QoQ.