Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancy falls and rents climb
Delhi-NCR retail real estate boomed in 2024 with 3.1M sq ft leased (up 7% YoY), vacancy easing to 8.3% from 9%, and rents rising to ₹800-1,000/sq ft in South Extension. Infrastructure like Jewar Airport and expressways fuels demand, with NCR set to dominate India's 27M sq ft pipeline through 2028.
Delhi-NCR retail real estate boomed in 2024 with record leasing (3.1M sq ft, up 7%), falling vacancies, and rising rents. Infrastructure like Jewar Airport and Noida/Dwarka Expressways drives demand; NCR to dominate India's retail pipeline through 2028.
Why this matters
CBRE's latest read reinforces prior signals on Delhi-NCR retail hitting record 2024 leasing, with 7% growth to 3.1M sq ft, vacancy falling to 8.3%, and rents rising across prime corridors.
Retail-company theme is accelerating, up 730300% QoQ.