Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as rents climb, vacancy falls to 8.3%
Delhi-NCR retail leasing rose 7% YoY to 3.1M sq ft in 2024 with vacancy easing to 8.3% from 9%, powered by Noida and Gurugram infrastructure and 12% consumer spending growth. ANAROCK projects the region will command a 66% share of India's retail pipeline with 27M sq ft planned through 2028.
Delhi-NCR retail real estate hit record leasing in 2024 with rising rents and falling vacancy, driven by Noida and Gurugram infrastructure. ANAROCK projects the region will dominate India's retail space pipeline through 2028 with 27M sq ft planned.
Why this matters
The 2024 record extends a run of Delhi-NCR signals showing falling vacancy and climbing rents, reinforcing the region as India's leading retail leasing market amid strong consumer demand.
Retail-company theme is accelerating, up 542300% QoQ.