Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancy falls and rents climb
CBRE and ANAROCK data show Delhi-NCR retail real estate booming in 2024, with leasing up 7% YoY to 3.1M sq ft and vacancy dropping to 8.3% from 9%. Noida and Gurugram lead demand, with South Ext rentals at ₹800-1000/sq ft. The region anchors 66% of India's 27M sq ft retail pipeline through 2028, signaling expanding store-footprint opportunities.
Delhi-NCR retail real estate saw record 2024 leasing, falling vacancy and rising rents, with Noida and Gurugram as key drivers. CBRE and ANAROCK data project the region leading India's retail pipeline through 2028, signaling expanding store footprint opportunities.
Why this matters
The record 2024 figures reinforce a run of Delhi-NCR retail signals, several resurfacing January 2024 data showing rising leasing, falling vacancy and climbing rents across the region.
Retail-company signals are accelerating, up 904200% QoQ.