Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancies fall and rents climb
Delhi-NCR retail real estate posted record 2024 leasing of 3.1M sq ft (up 7% YoY), with vacancy dropping to 8.3% from 9%. Noida and Gurugram lead a 27M sq ft pipeline through 2028—66% of India's anticipated development. Rising rents (₹800-1,000/sq ft South Ext) signal robust store-footprint opportunities for retailers.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancies and rising rents, led by Noida and Gurugram. Region set to dominate India's retail development pipeline through 2028, signaling expanding store footprint opportunities for retailers.