Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancy falls and rents climb
Delhi-NCR retail real estate posted record 2024 leasing of 3.1M sq ft (+7% YoY) with vacancy easing to 8.3% from 9%. Noida and Gurugram led demand, South Ext rents hit ₹800-1,000/sq ft, and the region holds a 27M sq ft pipeline—66% of major-city development through 2028.
Delhi-NCR retail real estate saw record 2024 leasing, falling vacancy, and rising rents, led by Noida and Gurugram. Region set to dominate India's retail pipeline with 27M sq ft planned, 66% of major-city development.