Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancy drops to 8.3%
NCR retail real estate boomed in 2024 with leasing up 7% YoY to 3.1M sq ft, vacancy falling to 8.3% from 9%, and rents climbing (₹800-1,000/sq ft in South Extension). Noida and Gurugram leasing surged 12-15%, aided by infrastructure like Jewar Airport. NCR set to dominate India's pipeline with 27M+ sq ft planned through 2028.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancies and rising rents, driven by infrastructure like Jewar Airport. NCR set to dominate India's retail development pipeline through 2028 with 27M+ sq ft planned.
Why this matters
This CBRE data extends a run of signals tracking Delhi-NCR's retail surge, confirming record 2024 leasing, falling vacancy, and rising rents across South Extension, Noida, and Gurugram.
Retail-company signals are accelerating, up 528000% QoQ.