Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as rents climb and vacancy falls
Delhi-NCR retail real estate leasing rose 7% YoY to 3.1M sq ft in 2024, with vacancy down to 8.3% from 9%. Noida and Gurugram demand surged 12-15%, fuelled by Jewar Airport infrastructure. South Ext rentals hit ₹800-1,000/sq ft. The region anchors 66% of India's 27M sq ft pipeline through 2028.
Delhi-NCR retail real estate hit record leasing and rising rents in 2024, with falling vacancy, surging Noida/Gurugram demand driven by infrastructure like Jewar Airport, and projections to lead India's retail pipeline through 2028.