Delhi-NCR retail leasing hit record 3.1M sq ft in 2024, resurfacing year-old data as vacancy fell and rents climbed
Resurfacing a 2024 report: Delhi-NCR retail leasing rose 7% YoY to 3.1M sq ft that year while vacancy dropped to 8.3% from 9%. Noida and Gurugram led with 12-15% leasing surges, backed by Jewar Airport infrastructure. The region was set to hold 66% of India's retail development pipeline, with 27M+ sq ft planned through 2028.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancy and rising rents. Noida and Gurugram lead, backed by infrastructure like Jewar Airport. Region set to hold 66% of India's retail development pipeline through 2028.
Why this matters
This resurfaced CBRE report reinforces prior signals on Delhi-NCR's record 3.1M sq ft leasing, falling mall vacancies and rising rents in 2024, underscoring the region's dominance in India's retail pipeline.
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