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 (+7% YoY), with vacancy easing to 8.3% from 9%. Noida and Gurugram drove a 12-15% leasing surge, while South Ext rents hit ₹800-1,000/sq ft. The region anchors 66% of major-city pipeline with 27M sq ft planned through 2028.
Delhi-NCR retail real estate hit record 2024 leasing (3.1M sq ft, +7% YoY), falling vacancies, and rising rents, driven by Noida and Gurugram; region set to dominate India's retail development pipeline through 2028.
Why this matters
CBRE India's data extends a run of record Delhi-NCR retail signals, reinforcing that 2024 leasing hit 3.1M sq ft as vacancy fell and rents climbed across Noida, Gurugram and South Ext.
Retail-company signals are accelerating, up 571100% QoQ.