Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancy falls and rents climb
Delhi-NCR posted a record 3.1M sq ft of retail leasing in 2024, up 7% YoY, with vacancy easing to 8.3% from 9%. Noida and Gurugram lead demand, buoyed by Jewar Airport and expressway infrastructure. NCR anchors 66% of a 27M sq ft pipeline through 2028, per CBRE and ANAROCK.
Delhi-NCR retail real estate hit a record 2024 with 3.1M sq ft leasing, falling vacancy, and rising rents. Noida and Gurugram lead, buoyed by Jewar Airport and expressways, positioning NCR to dominate India's retail pipeline through 2028.