Delhi-NCR retail leasing hit record in 2024, resurfacing year-end data as rents climbed and vacancy tightened
CBRE and ANAROCK data from late December 2024 showed Delhi-NCR retail leasing up 7% YoY to 3.1M sq ft, vacancy down to 8.3% from 9%, with Noida/Gurugram leasing surging 12-15%. The region commanded 66% of India's 27M sq ft retail pipeline through 2028, backed by 29 land deals covering 313 acres in FY23-24.
Delhi-NCR retail real estate hit record leasing in 2024, with falling vacancy, rising rents in Noida/Gurugram/South Extension, and dominant share of India's 2024-2028 retail development pipeline.
Why this matters
This resurfaced CBRE/ANAROCK data confirms Delhi-NCR's record 2024 leasing trend already flagged in prior signals showing Q1 leasing up 45% and record vacancy declines.
Retail-company theme is accelerating sharply, up +909300% QoQ.