Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancies fall and rents climb
Delhi-NCR retail real estate posted record 2024 leasing of 3.1M sq ft (+7% YoY), with vacancy down to 8.3% from 9%. Noida and Gurugram led a 12-15% leasing surge, while South Ext rentals hit ₹800-1000/sq ft. The region is projected to anchor India's retail pipeline with 27M sq ft through 2028.
Delhi-NCR retail real estate hit record 2024 leasing (3.1M sq ft, +7% YoY), falling vacancies, and rising rents, with Noida and Gurugram leading. Region projected to dominate India's retail pipeline with 27M sq ft through 2028.