Delhi-NCR retail leasing hit record 3.1M sq ft in 2024 as vacancy fell and rents climbed, resurfacing a January 2024 report
Resurfacing data from early January 2024: Delhi-NCR retail real estate posted record leasing of 3.1M sq ft (+7% YoY) in 2024, with vacancy easing to 8.3% from 9%. Noida and Gurugram led a 12-15% leasing surge, driven by Jewar Airport and expressway growth. The region was set to anchor 66% of India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit record leasing (3.1M sq ft, +7% YoY) in 2024 with falling vacancy and rising rents. Noida and Gurugram lead, driven by Jewar Airport and expressways; region to dominate India's retail pipeline through 2028.