Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancy falls to 8.3%
Noida and Gurugram drive a 12-15% leasing surge while consumer spending rises 12% YoY. A 27M sq ft mall pipeline through 2028—66% of national share—signals expanding physical retail space and location opportunities for Indian retailers.
Delhi-NCR retail real estate hit record leasing and falling vacancy in 2024, with Noida and Gurugram as key growth drivers. Rising rents and a large mall pipeline signal expanding physical retail space and location opportunities for Indian retailers.
Why this matters
CBRE's data reinforces prior signals on Delhi-NCR's record 3.1M sq ft leasing, falling vacancy, and rising high-street rents, confirming sustained momentum in the region's physical retail expansion.
Store-opening activity holds steady with 472 signals in the last 90 days.