Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancy falls, rents climb
Retail leasing rose 7% YoY to 3.1M sq ft while premium mall vacancy dropped to 8.3% from 9%. Noida and Gurugram led with 12-15% leasing surge and high-street rents of ₹800-1,000/sq ft. Region eyes 27M+ sq ft of planned retail space through 2028, per CBRE and ANAROCK.
Delhi-NCR retail real estate hit record leasing in 2024, with falling vacancy, rising rents and strong mall/mixed-use development in Noida and Gurugram, positioning the region to dominate India's retail space pipeline through 2028.