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 tightening to 8.3% from 9%. Noida and Gurugram lead growth, and the region will anchor 66% of India's retail pipeline (27M sq ft) through 2028, aided by Jewar Airport and expressway infrastructure. South Ext rentals hit ₹800-1,000/sq ft.
Delhi-NCR retail real estate hit record 2024 leasing, falling vacancies and rising rents, with Noida and Gurugram driving growth. The region will anchor 66% of India's retail development pipeline through 2028, boosted by Jewar Airport and expressway infrastructure.