Delhi-NCR retail leasing gains as mall vacancies fall and high-street rents climb, resurfacing a December 2024 report
Delhi-NCR retail real estate strengthened in 2024, with premium-mall vacancy falling to 8.3% from 9% a year earlier and leasing in Noida and Gurugram rising 12-15%, according to data resurfacing from late December 2024. More than 27 million sq ft of retail space is planned across the region for 2024-28.
Delhi-NCR posted record 2024 retail leasing, lower mall vacancy and rising rents, supported by consumer demand and infrastructure projects. The region is projected to lead India’s retail development pipeline through 2028, with over 27 million sq ft of planned space.
Why this matters
Follows related signals on 2024 leasing acceleration, falling premium-mall vacancy and rising rents, plus the 27M sq ft pipeline through 2028. It precedes Q1 2026 data showing leasing up 45%, led by fashion and F&B.
Footfall is steady at 481 signals in 90 days; no QoQ change figure was provided.