Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancies fall and rents climb
CBRE data shows Delhi-NCR retail real estate leasing grew 7% YoY to 3.1 million sq ft in 2024, with vacancy easing to 8.3% from 9%. Infrastructure like Jewar Airport and Dwarka Expressway is fueling demand in Noida and Gurugram, positioning the region for 66% of India's 27M sq ft planned pipeline through 2028.
Delhi-NCR retail real estate boomed in 2024 with record leasing, falling vacancies, and rising rents. Infrastructure like Jewar Airport and Dwarka Expressway is driving demand in Noida and Gurugram, with the region projected to dominate India's retail development pipeline through 2028.