Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as mall vacancy falls to 8.3%
Delhi-NCR posted landmark 2024 retail real estate growth: leasing up 7% YoY to 3.1M sq ft, vacancy down to 8.3% from 9%, and rents rising to ₹800-1000/sq ft in South Ext. Noida and Gurugram, buoyed by Jewar Airport and expressways, hold 66% of a 27M sq ft pipeline through 2028.
Delhi-NCR retail real estate hit a landmark 2024 with record leasing, falling mall vacancy, rising rents and surging land deals. Noida and Gurugram, boosted by Jewar Airport and expressways, are set to dominate India's retail development pipeline through 2028.