Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancies fall and rents climb
CBRE data shows Delhi-NCR retail real estate booming in 2024, with 3.1M sq ft leased (7% YoY growth) and vacancy easing to 8.3% from 9%. Noida and Gurugram lead a 12-15% leasing surge, backed by Jewar Airport and infrastructure. NCR is set to command 66% of India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancies, rising rentals, and strong consumer spending. Noida and Gurugram lead growth, aided by infrastructure and Jewar Airport, with NCR set to dominate India's retail development pipeline through 2028.