Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancy falls and rents climb
NCR retail leasing rose 7% YoY to 3.1M sq ft in 2024 while vacancy fell to 8.3% from 9%, per CBRE and ANAROCK. Noida and Gurugram led with 12-15% leasing surges. South Extension rents hit ₹800-1,000/sq ft. NCR set to command 66% of India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit record 2024 leasing (up 7% YoY), falling vacancy (8.3%), and rising rents, led by Noida and Gurugram. NCR to dominate 66% of India's retail development pipeline through 2028, per CBRE and ANAROCK.