Delhi-NCR retail leasing gains from 2024 resurface as premium-mall vacancy dropped to 8.3%
Resurfacing a 2024 report: Delhi-NCR's retail property market strengthened that year, with Noida and Gurugram leasing up 12–15%, premium-mall vacancy declining from 9% to 8.3%, and high-street rents climbing. More than 27 million sq. ft. of retail supply was projected for the region through 2028.
Delhi-NCR retail property saw record 2024 leasing, declining premium-mall vacancy and rising high-street rents. Infrastructure projects, including Jewar Airport and Dwarka Expressway, support Noida and Gurugram growth, while over 27 million sq. ft. of retail supply is projected through 2028.
Why this matters
The signal follows recent resurfaced reports on Delhi-NCR retail rents rising as premium-mall vacancy narrowed and on leasing and rents climbing alongside a 27 million sq. ft. retail pipeline.
Store-opening is steady, with 1,502 signals in 90 days; no QoQ change figure was provided.