Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancy falls and rents climb
Delhi-NCR retail real estate posted record leasing of 3.1M sq ft (up 7% YoY) in 2024, with vacancy dropping to 8.3% from 9%. Noida and Gurugram drove a 12-15% leasing surge, while rents hit ₹800-1,000/sq ft in South Extension. The region is set to lead 66% of India's 27M sq ft retail pipeline through 2028.
Delhi-NCR retail real estate hit record leasing (3.1M sq ft, up 7%) in 2024 with falling vacancy and rising rents, driven by Noida and Gurugram. Region set to lead 66% of India's retail development pipeline through 2028.