Delhi-NCR retail leasing hit 3.1 mn sq ft in H1 2024 as mall vacancies and rents tightened, data resurfacing from early 2024 shows
Retail leasing in Delhi-NCR rose 7% year on year to 3.1 million sq ft in H1 2024, while premium-mall vacancy fell to 8.3%, according to figures resurfacing from a January 2024 report. Noida and Gurugram leasing grew 12–15% in that period, supported by connectivity projects and a development pipeline exceeding 27 million sq ft through 2028.
Delhi-NCR retail property leasing and rents rose sharply in 2024 as mall vacancy declined. Noida and Gurugram gained from new connectivity and Jewar Airport prospects, while the region is projected to lead India’s retail-space pipeline through 2028.
Why this matters
The H1 2024 figures add context to recent Delhi-NCR signals reporting 45% Q1 leasing growth, led by fashion and F&B demand, indicating leasing momentum was already strengthening across the market.
Store-opening is steady, with 1,420 signals recorded over the past 90 days.