Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as rents climb, vacancy falls
Retail leasing rose 7% YoY to 3.1M sq ft, led by Noida and Gurugram (+12-15%), while premium mall vacancy dropped to 8.3% from 9%. South Extension rents hit ₹800-1,000/sq ft. ANAROCK projects Delhi-NCR to lead India's retail pipeline with 27M sq ft (66% share) through 2028.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancy and rising rents, driven by Noida and Gurugram. ANAROCK projects the region to dominate India's retail pipeline through 2028 with 27M sq ft planned.