Delhi-NCR retail leasing hits record 3.1M sq ft in 2024 as vacancy falls and rents climb
NCR retail real estate posted 7% YoY leasing growth to 3.1M sq ft in 2024, with vacancy easing to 8.3% from 9%. Noida and Gurugram lead a 12-15% surge, buoyed by Jewar Airport infrastructure. NCR is projected to hold 66% of India's 27M sq ft development pipeline through 2028.
Delhi-NCR retail real estate hit record leasing in 2024 with falling vacancy and rising rents. Noida and Gurugram lead growth driven by infrastructure like Jewar Airport; NCR projected to dominate India's retail development pipeline through 2028.