Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancy falls and rents climb
Delhi-NCR retail real estate leasing rose 7% YoY to 3.1M sq ft in 2024 while mall vacancy dropped to 8.3% from 9%. Noida and Gurugram led with 12-15% leasing growth, boosted by Jewar Airport and infrastructure. The region holds a 27M sq ft pipeline — 66% of India's total — through 2028.
Delhi-NCR retail real estate boomed in 2024 with record leasing, falling mall vacancy, and rising rents. Noida and Gurugram led growth, aided by Jewar Airport and infrastructure, positioning the region to dominate India's retail space pipeline through 2028.