Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancy falls and rents climb
CBRE data shows NCR retail leasing up 7% YoY to 3.1M sq ft in 2024, with vacancy easing to 8.3% from 9%. Noida and Gurugram lead at 12-15% growth, South Ex rentals hit ₹800-1,000/sq ft, and consumer spending rose 12%. NCR is set to hold 66% of India's 27M+ sq ft retail pipeline through 2028.
Delhi-NCR retail real estate boomed in 2024 with record leasing (3.1M sq ft, +7% YoY), falling vacancy, and rising rents. Noida and Gurugram lead growth, with NCR projected to dominate 66% of India's retail space pipeline through 2028.