Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancy falls, rents climb
CBRE and ANAROCK data show NCR retail leasing up 7% YoY to 3.1M sq ft with vacancy easing to 8.3% from 9%. Noida and Gurugram lead growth at 12-15%, buoyed by Jewar Airport and 12% YoY consumer spending gains. NCR holds 66% of India's 27M sq ft mall pipeline through 2028.
Delhi-NCR retail real estate hit record leasing in 2024, with vacancy falling and rents rising, per CBRE and ANAROCK. Noida and Gurugram drive growth via infrastructure like Jewar Airport, positioning NCR to dominate India's retail mall pipeline through 2028.
Why this matters
Reinforces CBRE's tracking of NCR retail momentum, echoing prior reports of record 2024 leasing, vacancy falling to 8.3%, and climbing rents across the region.
Retail-company theme accelerating, up 815,200% QoQ.