Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancies fall and rents climb
NCR retail real estate booms with leasing up 7% YoY, vacancy down to 8.3%, and prime rents surging (₹800-1000 psf at South Ext). Noida and Gurugram lead the charge as consumer spending rises 12% YoY. NCR commands a 66% share of India's 27M sq ft development pipeline through 2028.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancies and rising rents, led by Noida and Gurugram. Consumer spending rose 12% and NCR is projected to lead India's retail development pipeline through 2028.