Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancy falls, rents climb
NCR retail real estate leasing rose 7% YoY to 3.1M sq ft in 2024, with Noida and Gurugram surging 12-15%. Premium mall vacancy fell to 8.3% from 9%, while South Extension rents hit ₹800-1,000/sq ft. NCR is set to dominate India's pipeline with 27M+ sq ft planned through 2028, opening runway for retailer expansion.
Delhi-NCR retail real estate hit record leasing and falling vacancy in 2024, with Noida and Gurugram leading. NCR to dominate India's retail development pipeline through 2028 with 27M+ sq ft planned, boosting expansion opportunities for retailers.